Animal magic for VetPlus as sales hit record

INTERNATIONAL sales have helped Lancashire veterinary health  products manufacturer, VetPlus, break through £10m turnover for the first time.
The Lytham-based company, which is part of the privately-owned Tangerine Group, makes neutrecuticals – dietary supplements and nutrients including treatments for stressed cats and dogs and soothing ointment for horses with insect bites.
It said sales had risen 22% in the year to the end of June, while its international revenues were 30% ahead in the same period. Although not disclosed, the company said it had more than doubled profits.
VetPlus chairman, David Haythornthwaite, who also owns Tangerine Group, said: “We have invested significantly in our research and development facilities in Lytham over the past year, enabling us to remain ahead of the sector with innovative new products. 
“Manufacturing our products in house ensures that we have the flexibility our international customers demand and the processes to maintain the highest standards of quality control.   That commitment has ensured increased demand at home and abroad and we’re delighted to have reached such a turnover milestone.”
In the UK  VetPlus sell exclusively through independent vet practices. Its international strategic growth plan began seven years ago and the business now has 26 partners.
International sales director Neil Pullar said recent growth had been strongest in the Asia Pacific region, especially in Korea, China and New Zealand. 
“We have a great business model that works well for all concerned and expect to see a further 30% increase in international sales over the coming year.”
Flora Correderas, director of overseas subsidiaries added: “It’s been a pretty good year all round. Our Spanish subsidiary has returned to profit after the financial crisis and while Germany still has teething problems, the market for our products is huge. 
“While we don’t expect to show a profit there next year, we are totally focused on growing our market share and establishing our brand. In the meantime, plans for the opening of our French subsidiary are at an advanced stage and we expect to make an announcement shortly.”

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