Anpario lifts interim dividend by 10%
Animal health and nutrition group Anpario raised its interim dividend by 10% on Wednesday as it reported improved first-half margins.
Anpario saw pre-tax profits rise 6% year-on-year to £2.4m in the six months ended 30 June, while revenues grew 13% to £16.2m.
Adjusted underlying earnings increased 24% to £3.4m and diluted earnings per share shot up 34% to 11.74p.
As a result, margins improved to 52.5% from 49.7% as the AIM-listed firm sold more higher value-added products throughout the period, leading Anpario to approve an interim dividend of 2.75p per share - up from the 2.5p declared a year earlier.
Anpario said: "We will continue the on-line and direct marketing tactics that produced such a strong first-half performance.
"Additionally, we will be able to build upon new business gained from those competitors unable to supply during lock-down. As a result, we remain confident of continuing the profitable development of the group."
The group's cash balance remained broadly flat at £13.2m.
As of 1045 BST, Anpario shares were up 7.18% at 418.0p.