Anpario reported first-half 2026 sales of £24.3 million, up 7%, while adjusted EBITDA increased 22% to £5 million as growth in the Americas, India, Middle East and Africa offset weaker conditions in parts of Asia.
Profit before tax increased 11% to £3.8 million, diluted adjusted earnings per share rose 30% to 20.77 pence, and the company increased its interim dividend by 6% to 3.8 pence per share. Anpario also completed a £3 million share repurchase program in July and had £11 million in cash and cash equivalents at the end of June.
Anpario manufactures natural animal feed additives focused on animal health, nutrition and biosecurity. Its leading brands, including Orego-Stim, pHorce, Optomega, Mastercube and Bio-Vet, collectively generated nearly 80% of group revenue and grew sales by 17% during the period.
The IMEA region delivered the fastest growth, with sales increasing 56%, while the Americas grew 7% and became Anpario’s largest region. U.S. sales increased 19%, including a 28% increase for the Bio-Vet on-farm portfolio and 29% growth for pHorce.
Asia revenue declined 9%, primarily because of weaker mycotoxin binder sales, but excluding those products, regional revenue increased 7%. The company also cited disruption from the conflict in the Middle East and expects those pressures to continue through the remainder of 2026.
Anpario reported early adoption of its AmpLIPhy natural emulsifier, first Middle East sales of Bio-Vet’s QuadriCal bolus and initial commercial sales through its Turkish subsidiary. Bio-Vet will be rebranded as Anpario beginning in October as the company moves toward a unified global brand.
KEY QUOTE:
“The Board is delighted to report another good first half performance in terms of improved sales and profitability. This result reflects management’s initiatives in promoting higher value-add products with record sales performances achieved, the IMEA segment generating substantial growth, and the Americas segment continuing to benefit from the Bio-Vet acquisition and the resulting enhanced leadership structure.”
“The success achieved in the first half has come despite the challenging macroeconomic environment, the effects of which have been felt more acutely in some markets, tempering the overall growth of the Group. Whilst these conditions may persist into the second half, the Group’s geographic diversity, structural demand drivers for our products and disciplined commercial strategy position it well for continued sustainable growth.”
Matthew Robinson, Chairman of Anpario
