Animalcare’s share price hits all-time closing high following positive trading news

THE share price of veterinary medicines supplier Animalcare closed at an all-time high last night following yesterday’s statement that the business had experienced a “very” strong first half performance.

The company’s shares closed at 3.11p, a rise of 6% and up 17p for the day, giving the company a market capitalisation of £66m.

Animalcare’s previous closing high was on December 2 at 3.09p.

Providing an update for the first six months of its financial year, the group said yesterday it expects that trading for the year ending June 30 will be ahead of current market expectations.

The company said: “Despite the uncertainty of Brexit, the board took the decision to accelerate investment in new products on the strength of continued positive trading momentum and the group’s strong financial position.

“We are pleased to report good progress in our product development pipeline, in particular with regard to the identification of novel formulations which, as previously stated, are strategic focus for the group.”