Anpario, an international supplier of natural high performance feed additives to enhance health, growth and sustainability in agriculture and aquaculture is pleased to announce its interim results for the 6 months to 30 June 2012.
Key points: Financial
25% increase in adjusted EBITDA to £1.35m (€1.69 million)
16% increase in sales revenue to £10.82m (€13.58 million)
Cash balance of £2.83m (€3.54 million) at 30 June 2012.
Key points: Operational
Meriden Animal Health Limited, acquired in March 2012, makes a full three month contribution.
Successful repositioning of UK Agriculture division delivers continued profit growth on previous year.
Organic feed division, Vitrition, more than doubles profitability through production efficiencies
In the six months to 30 June 2012 adjusted EBITDA increased by 25% to €1.69 million from 1.35 million in 2011, with sales increasing by 16% to €13.53 million, up from €11.7 million in 2011, benefiting from a maiden three months contribution from Meriden.
The Meriden acquisition was financed entirely from Anpario’s own resources and has been immediately cash generative. The balance sheet remains strong with good cash generation and the Group ended the period with a cash balance of £2.83m (€3.54 million).