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(Sharecast News) - Animal feed additive manufacturer Anpario flagged a stronger-than-expected operating performance for the year ended 31 December on Friday.
The AIM-traded company said it anticipated revenue of £37.5m, a significant increase from £31m in 2023, driven by robust sales in the second half of the year.
Adjusted EBITDA was also expected to exceed current market expectations, bolstered by operational efficiencies and favourable year-end foreign exchange movements.
The acquisition of Bio-Vet in September contributed positively, with a strong final quarter performance fueled by heightened demand for products supporting dairy cow health during an avian influenza outbreak.
Additionally, the Middle East and Africa segment delivered exceptional sales growth during the year.
Anpario said it maintained a solid financial position, with year-end cash balances of £10.5m, despite the $6.3m cash acquisition of Bio-Vet and associated assets.
The firm said it planned to leverage its strong balance sheet to invest in innovative natural solutions, expand its global footprint, and explore complementary acquisitions.
Anpario said it would publish its final results for 2024 on or around 26 March.
At 1533 GMT, shares in Anpario were up 10.41% at 405.76p.
Reporting by Josh White for Sharecast.com.
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