Revenue growth returns for veterinary sales group

York-headquartered animal health business, Animalcare Group, says it returned to revenue growth in 2023 with sales increasing across all its product segments and direct operations.

In an unaudited trading update for the year ended 31 December 2023, the group adds that its full year revenues are expected to be approximately £74.4m (2022: £71.6m).

Animalcare anticipates its underlying EBITDA will be in line with market expectations and at least in line with 2022 (2022: £13.1m).

Jenny Winter, chief executive officer, said: “I am delighted to deliver such a positive performance update for the full year which underlines our growing capability as well as the attractive fundamentals of the markets in which we operate.

“Our financial platform – stronger than ever – equips us with the firepower and flexibility to grow our business over the long term through investment in our people, our pipeline and external business development opportunities. That remains a key priority.”

The group says it ended the financial year in a net cash position of £1.7m, (31 December 2022: £2.4m debt).

Preliminary unaudited results are expected to be published on 9 April 2024.