Anpario posted a profit (before tax and exceptional items) of £2.1 million (US$3.4 million) for 2011, compared to 2010's £1.9 million (US$3.08 million), according to the company's latest financial report.
The company’s strategy was to focus on its higher value-added products and to exit low-margin commodity-type products supplied in the UK market. “The results have demonstrated the strength of the group’s broad geographic spread, which has enabled it to offset local issues in Middle Eastern and Southern European markets with strong performances in other territories," said Anpario chief executive David Bullen. "In addition, we work closely with our national distributors to minimize credit risk in those countries where there is financial or political concern.”
The group has made a strong start to 2012 with sales growth delivered across all divisions, according to the company. Management focus is to drive organic growth by aggressively pursuing market share. "Our strong balance sheet and cash flow allow management to continue to seek acquisition opportunities that offer strategic and commercial benefits to the group through the broadening of our product portfolio and geographic spread," said Bullen.