Financial highlights
- 39% increase in revenue to £14.8m (2016: £10.7m)
- 42% rise in gross profits to £7.3m (2016: £5.1m)
- 31% improvement in adjusted EBITDA1 to £2.6m (2016: £2.0)
- 22% enhancement in adjusted earnings per share to 9.1p (2016: 7.5p)
- Introduction of interim dividend of 2.0p per share (2016: nil)
- Cash balances of £12.6m at 30 June 2017 (31 December 2016: £11.1m)
Operational highlights
- Sales growth achieved reflects strong performances in Asia, the Americas and Middle East
- Implementation of our strategy starting to deliver planned benefits
- Anpario global branding raising the international profile of the company
- New subsidiaries set-up in Thailand and Indonesia
- Acquisition of Australian distributor completed in February 2017 and integration progressing well
Peter Lawrence, Chairman, commented:
“We are delighted by the first half performance driven by the implementation of our strategy to build strong commercial relationships with end users. The second half of the year has started well. Our strong balance sheet and positive cash generation give Anpario a sound platform from which to make selective earnings enhancing acquisitions and to further invest in recruitment and infrastructure to accelerate the profitable growth of the business”.
Outlook
The second half of the year has started well. Our focus remains on implementing the strategy that is successfully transforming our sales and distribution channels by building stronger and closer relationships with customers. Our strong balance sheet and positive cash generation give Anpario a sound platform from which to make selective earnings enhancing acquisitions and to further invest in recruitment and infrastructure to accelerate the profitable growth of the business.