3rd Feb 2014 11:22
LONDON (Alliance News) - Feed additives producer Anpario PLC Monday said it expects to deliver 2013 results that are in line with market expectations after all its international brands delivered strong sales growth, while it has now opened a US operation after discovering strong interest in its products there.
The company, which makes additives for animal feed, health, hygiene and nutrition products, said it has established a subsidiary in the US, after it expanded its Brazil, China and Malaysia offices during 2013.
"The US operation complements subsidiaries already formed in Brazil and China and means the company is now firmly located in the world?s three principal pig and poultry producing countries. These businesses serve territories which in total account for over half the world?s output of pigs and poultry and will provide a strong platform for future growth," it said in a statement.
It said it had cash balances of GBP4.8 million at the end of 2013.
"The company is greatly encouraged by the number of new opportunities opening up in existing and new markets as customers become increasingly aware of the performance enhancing value of Anpario?s product portfolio," it said in its outlook statement.
Anpario expects to release its full 2013 results in April.
FinnCap is forecasting that the company will report a pretax profit of GBP3 million for 2013, according to Hemscott. It reported revenues of GBP23.5 million in 2012, up from GBP19.2 million in 2011, and a pretax profit of GBP1.5 million, down from GBP1.8 million in 2011 as it booked an impairment for previous spending on its aquaculture brand.
Anpario shares were up 1.8% at 261 pence Monday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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