Animalcare on course following deal

ANIMAL tagging and healthcare business Animalcare said today that it expects profits to be in line with expectations after its business improved following last year’s Bluetongue and Foot & Mouth outbreaks.

The North Yorkshire group, which changed its name from Ritchey to Animalcare earlier this year after the reverse takeover of the former Genus subsidiary, said that the integration of Animalcare is “progressing satisfactorily” and in a trading statement said that its full-year results to June will include 24 weeks contribution from the acquired veterinary supplies business which is hitting its performance targets.

Masham-based Animalcare moved from the junior PLUS Markets stock exchange to the Alternative Investment Market (AIM) in January following the £14m reverse takeover deal in November 2007.

In a statement, the group, which is chaired by R&R Ice Cream chief executive James Lambert, said: “The board is confident in the potential of Animalcare to
deliver substantial profit growth in the future.

“Following a particularly challenging first half, which suffered from outbreaks of Bluetongue and Foot & Mouth disease, the performance of the agricultural
business improved considerably during the seasonally stronger second half.

“Higher selling prices and robust cost control substantially offset lower than expected second half sales, leading to slightly lower than expected profitability for the full year.”