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06 Mar 2019 | 14:15

Anpario profit rises 35% as cost control offsets weaker sales

Animal feed additive producer Anpario booked a 34% rise in annual profit as it capped costs to combat falling sales, amid an African swine fever breakout in China.

Pre-tax profit for the year through December rose to £4.0m, even as revenue fell 3% to £28.3m.

The company declared a final dividend of 5.0p per share, bringing total dividends for the year to 7.2p, up 11% on-year.

'Trading in the current year is ahead of the same point in 2018,' chief executive Peter Lawrence said.

'However, we remain vigilant as there may be obstacles ahead due to Brexit and African swine fever, in particular.'

'Our strong balance sheet and cash generation capability provide Anpario with a firm platform from which to invest in new products and to develop the exciting Anpario Direct opportunity.'

'Expanding profitable sales and distribution channels around the world remains our priority and the initiatives already implemented are gaining traction.'

'This gives me confidence that we will return to sales growth as 2019 progresses.'

At 2:15pm: (LON:ANP) Anpario PLC share price was -10p at 330p

Story provided by StockMarketWire.com
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