ANPARIO PLC - Interim Results for the six months to 30 June 2026

Anpario PLC’s interim results for H1 2026 highlight continued revenue growth, improved profitability and long-term opportunities across its global animal health and nutrition business. Revenue increased 7% to £24.3 million, while adjusted EBITDA rose 22% and diluted adjusted EPS increased 30%. Premium, higher-margin product brands, including Agas, Simforce, Optamiga, Masscue and the BIT range, grew 17% and now represent 80% of the sales mix. Regional performance was mixed, with India, the Middle East and Africa delivering exceptional 56% growth, alongside positive momentum in the Americas, particularly the US. Asia declined due to weakness in toxin binders, although underlying sales excluding toxin binders grew 7%. Gross margins remained broadly stable, with the Group targeting a sustainable level above 50%, while administrative costs declined 3% excluding non-recurring professional fees. Anpario’s growth strategy includes expanding direct sales channels in Latin America and Turkey, developing premium animal nutrition products and pursuing innovation in gut health, feed efficiency and sustainable animal production. New product opportunities include Amplify, Quadrical, Orego-Stim, Red Lite and heat-stress solutions for livestock and aquaculture. Despite a softer start to H2 and challenging macroeconomic conditions, management remains optimistic about the long-term outlook, supported by geographic diversification, new product development and a focus on creating sustainable shareholder value.