27 June 2019 – AGM statement
At the AGM, the company has confirmed that trading conditions remain challenging due to problems in the industry as a whole. The farming crisis in China, caused by African Swine Fever, is expected to alleviate during the course of the year, and the group’s focus on poultry in the country is also gaining momentum. Other geographic regions such as Latin America should benefit from production shortfalls in China and this bodes well for Anpario’s global business. The group has recently launched its online platform in the UK targeting smaller businesses and the first sales have already been received. A change in product mix together with tight control of costs has improved gross margins whilst the company also has a strong balance sheet with cash of £13m. The company remains on course to meet full year profit expectations and the shares remain a BUY.