ANPARIO, the UK-based international feed additive company, posted turnover and profit growth in the year to 31 December 2019.
Full-year revenues were up 3% to £29m while EBITDA grew 6% to £5.7m. Anpario suggested strong trading in Latin America and the Middle East, and recovery in Asian markets had driven the growth.
Chief executive Richard Edwards (pictured) said he was pleased with the “solid performance” given challenges such as extreme weather conditions, animal disease and political uncertainty.
The firm said recent targeting of China’s poultry industry had helped offset reduced business caused by African Swine Fever in the region.
“Costs continue to be managed closely, and our strategy to market higher value-added products and develop more direct routes to market has helped to improve gross margins,” Mr Edwards said.
He added that, while Covid-19 Coronavirus had not disrupted sales in last year’s results, travel restrictions and trade show cancellations could have an impact in 2020.
“While we have not yet experienced any material impact on our business, we continue to monitor the situation within our business and with distribution and supply channels very closely. We are taking all necessary safeguards.”
Mr Edwards also said he expected potential disruption to shipping, but that most raw materials that the firm uses were sourced from Europe.
The firm also launched a direct sales channel in the UK serving smaller farmers.
Mr Edwards concluded: “The demand for our products is expected to continue to increase due to their effects of enhancing biosecurity, replacing non-therapeutic antibiotics and improving production efficiency which is what is now expected from consumers and farmers.”