**Summary**
Anpario plc, a manufacturer of natural and sustainable feed additives for animal health, reported strong financial results for the year ended December 31, 2025. Key highlights include
**Revenue Growth** Revenue increased by 24% to £47.2 million, driven by the full-year contribution from the Bio-Vet acquisition and 12% like-for-like growth excluding Bio-Vet.
**Profitability Improvement** Gross margin improved to 50.9%, and profit before tax rose by 54% to £8.0 million. Adjusted EBITDA increased by 38% to £9.6 million.
**Earnings Growth** Basic earnings per share increased by 63% to 40.20p, and diluted adjusted earnings per share rose by 33% to 39.49p.
**Dividend Increase** The proposed final dividend increased to 8.90p per share, resulting in a total dividend for the year of 12.50p per share, an 11% increase.
**Operational Highlights** Successful integration of Bio-Vet, strong like-for-like sales growth across regions, and continued growth in premium product classes.
**Outlook** Trading in line with expectations, continued growth in North America, strong start in the Middle East, and efforts to mitigate the impact of the conflict in Iran on logistics and supply chains.
The companys performance reflects successful strategy execution, growing demand for natural feed additives, and operational leverage. Anpario remains focused on long-term profitable growth, innovation, and strengthening customer relationships, despite macroeconomic and geopolitical uncertainties.
| Metric | 2025 | 2024 | Change | % Change |
|---|---|---|---|---|
| Revenue | £47.2m | £38.2m | £9.0m | 24% |
| Gross Profit | £24.0m | £17.9m | £6.1m | 34% |
| Profit Before Tax | £8.0m | £5.2m | £2.8m | td>54%|
| Adjusted EBITDA | £9.6m | £7.0m | £2.6m | 38% |
| Cash and Cash Equivalents | £12.4m | £10.5m | £1.9m | 18% |
| Net Debt (Cash) | £12.4m (Cash) | £10.5m (Cash) | £1.9m | 18% |