Anpario PLC COVID-19 Update and Patent Application (2145L)
April 29 2020 - 2:00AM
UK Regulatory
TIDMANP
RNS Number : 2145L
Anpario PLC
29 April 2020
29 April 2020
Anpario plc
(the "Company" or "Anpario")
COVID-19 UPDATE and PATENT APPLICATION
Anpario plc (AIM:ANP), the international producer and
distributor of natural animal feed additives for animal health,
nutrition and biosecurity today announces an update in relation to
business continuity during the Covid-19 pandemic and international
patent application.
Covid-19 update
Anpario has been and continues to operate with little disruption
in terms of production and delivery to our customers on a worldwide
basis. The continuity plan implemented in early March which
included remote working, social distancing measures, split shifts
in our production plant, as well as building up inventories has
enabled the Company to meet the increase in demand from customers
and our subsidiaries.
The strong performance in the first quarter is from customers
increasing stock levels and recent business development initiatives
coming to fruition. Some new customers have been gained as they
experienced disruption in deliveries from other suppliers where
Anpario has been able to step in and fulfil their requirements. Our
contingency planning in early March included setting up technology
to ensure our global sales team could support our customers and
continue with business development on a remote basis is effective
and has been well received. We see new opportunities to grow market
share through remote sales calls, consistent customer service and
our continued product development.
Anpario entered this crisis with a strong balance sheet and as
at 25 April 2020 has a cash balance of GBP13.8m. The Board
reaffirms its commitment to the previously announced final dividend
of 5.5p, subject to shareholder approval at the AGM on 25 June
2020.
Patent application
Anpario has recently filed an international patent application
for an invention following a combined and successful research
programme with the University of Reading. This research
demonstrated that Anpario has developed a natural essential oil
composition that could reduce the presence of certain antimicrobial
resistant bacteria in the gut of young cattle. This resistance can
occur when calves are fed 'waste milk' or colostrum containing
antibiotic residues or when calves acquire antimicrobial resistance
from the environment. The inhibition effects of the composition on
antimicrobial resistance means that those 'highest priority and
critically important' antibiotics commonly used in human and animal
medicine can be safeguarded for continued use. There are other
positive aspects to this research which supports Anpario's strategy
of extending our technology into areas which support and maintain
animal health through scientific applications.
Richard Edwards, Chief Executive, commented:
"None of this would be possible if it wasn't for the whole
Anpario team pulling together. We are seeing departments merging
into one team determined to succeed; everyone is sharing in the
common goal of keeping our customers supplied. This Anpario Way of
Working (AWOW) is not a documented procedure to read and follow,
it's an attitude, commitment and dedication - all the things we are
witnessing now in abundance in our company. I would like to thank
all our employees around the world for their resilience, optimism
and hard work during these testing times."
Enquiries:
Anpario plc
Richard Edwards, Chief Executive
Officer +44 (0) 777 6417 129
Karen Prior, Finance Director +44 (0) 1909 537380
Peel Hunt LLP
Adrian Trimmings
Andrew Clark
Will Bell +44 (0) 20 7418 8900
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END
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