Anpario PLC on Friday said its 2024 results were higher than expected, as it anticipates beating current market forecasts.
The Nottinghamshire, England-based animal feed additive manufacturer said it expects to report revenue of around £37.5 million for 2024, up 19% from £31.0 million in 2023 and around 6.0% higher than the company-compiled £35.3 million market forecast.
The group also said it expects to post adjusted earnings before interest, tax, depreciation and amortisation ahead of current market expectations, citing an analyst consensus of £5.7 million.
These results included three months of trading for its newly-acquired subsidiary Bio-Vet Inc, the firm said.
‘Bio-Vet had a strong final quarter due to heightened demand for its products, which support the health of dairy cows affected by avian influenza, and our Middle East and Africa segment delivered an outstanding sales performance,’ Anpario noted.
The group said it ended the year with cash balances of £10.5 million, down from £10.6 million last year, following its Bio-Vet acquisition at the end of September.
Anpario said: ‘Our strong balance sheet enables the group to invest in innovative natural product solutions, expand our global reach and explore earnings enhancing and complementary acquisitions to continue the profitable development of the group. We remain confident in our ability to capitalise on growth opportunities, delivering long-term benefits to all stakeholders.’
Anpario expects to publish its full-year results on or around March 26.
Shares in Anpario were up 9.8% at 403.55 pence each in London on Friday morning.
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