Animal health group eyes fresh opportunities for growth as profits climb
York-headquartered animal health business, Animalcare Group, has reported a strong financial performance and strategic progress in its preliminary results for the year ended 31 December 2024.
The business’s revenues from continuing operations increased by 4.9% to £74.2m (2023: £70.7m), while its reported profit before tax climbed to £5.8m (2023: £3.3m).
As previously reported, the firm acquired Australia-based Randlab in January 2025 for £59.7m, transforming its position in the Equine sector and opening new routes to Asia Pacific markets for the group’s existing product portfolio.
Jenny Winter, chief executive officer, said: “This has been a solid year of delivery for Animalcare, characterised by a positive organic trading performance and culminating in the exciting acquisition of Randlab post year end, providing a transformational boost to the execution of our long-term growth strategy.
“Revenues increased across all three of our product categories as investment in our people and the effectiveness of our operations continued to yield benefits.
“Strong cash generation, underpinned by the disposal of non-core assets and the proceeds of the successful equity raise, maintained our balance sheet firepower, enabling us to continue the pursuit of organic and inorganic growth opportunities.”
Animalcare adds that another potential source of future expansion is its new product pipeline.
It says much of the growth in animal health markets comes from new, differentiated products, notably in biologics.
The group says it is committed to increasing investment in its development pipeline, whether that be though life cycle management projects to extend the utility and reach of existing brands or innovative technology that promises to change veterinary practice.
