Shares in Anpario PLC (LSE:ANP), a manufacturer of natural sustainable feed additives for animal health, nutrition and biosecurity nosedived over 30% after the company reported a fall in profit and said trading at the start of 2023 has been weak.
“Trading in the first couple of months of 2023 has been weak and market conditions are expected to continue to be challenging through the first half of the year,” chair Kate Allum said.
“Avian influenza which for the first time is evident around the world at the same time will present its challenges to the industry,” she added.
Anpario said operating performance was hit by supply chain disruption and significant and immediate raw material and logistics price inflation.
“This challenging backdrop has also adversely affected many producers who have experienced input cost pressures, notably feed and energy, hurting their profitability and in some cases viability,” the company added.
The AIM-listed firm reported a 1% decrease in revenue to £33.1mln from £33.4mln in 2021 and a 25% fall in adjusted EBITDA to £5.2mln from £7.0mln. Basic earnings per share declined 30% to 16.13p from 22.92p.
A final dividend of 7.35p was declared making the total payout for the year 10.5p, up from 10p in 2021.
Shares fell to 215.89p, down 94.11p, or 30.4%.