Anpario reports sharp rise in first-half earnings
By Josh White
Date: Wednesday 10 Sep 2025
(Sharecast News) - Anpario reported a sharp rise in earnings for the first half of 2025 on Wednesday, driven by strong international sales and the contribution from its Bio-Vet acquisition in the United States.
The AIM-traded animal feed additives specialist posted a 34% increase in revenue to £22.7m in the six months to 30 June, up from £17.0m a year earlier.
Gross profit rose 45% to £11.7m, lifting margins to 51.4% from 47.5%, while adjusted EBITDA advanced 53% to £4.1m.
Profit before tax climbed 62% to £3.4m, and diluted adjusted earnings per share were 43% higher at 16.01p.
The board declared an interim dividend of 3.60p per share, up 11% on the prior period.
Sales growth was recorded across the Americas, Asia and Europe, though the company said the India, Middle East and Africa segment had levelled off following an exceptional performance last year.
Demand for phytogenics, acid-based eubiotics, mycotoxin binders and omega products underpinned performance, with sales in the US boosted by strong uptake of its pHorce feed hygiene additive in the swine sector.
"The board is delighted to report another strong first half performance in terms of improved sales, margins and profitability," said chairman Matthew Robinson.
"This result reflects management's initiatives in promoting higher value-add products, as well as a broader recovery across the group's territories, with an encouraging turnaround in the United States and the contribution made by the Bio-Vet acquisition completed on 30 September 2024."
He added that the acquisition had met its earnout target and that integration was progressing, with plans to expand sales of Bio-Vet's QuadriCal calcium bolus supplement internationally and to market Anpario products through Bio-Vet's US dairy farm customer base.
Looking ahead, the company said sales momentum had continued into the second half.
It said it was establishing subsidiaries in Central America to strengthen customer engagement and saw long-term growth opportunities from its portfolio of natural and sustainable feed additive solutions.
"The group has made a strong start to the second half, and we are confident of building on this momentum," Robinson said.
At 0921 BST, shares in Anpario were up 15.83% at 489.2p.
Reporting by Josh White for Sharecast.com.
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