Growth continues for Animalcare
VETERINARY products group Animalcare said this morning it has seen continued growth this year, with revenues 11% ahead of the previous 12 months.
In a pre-close trading update today ahead of its annual results to June 30, the York-based group said it has traded in line with market expectations for the year.
It said latest market statistics show sales of veterinary medicines for companion animals in the UK to be flat, therefore Animalcare’s growth is “well ahead” of the general market.
“This trend of growth across the group is reflected in overall underlying earnings in line with expectations,” the group said.
“The performance of our core Licensed Veterinary Medicines group was particularly notable, with revenues up by 22% compared with the prior year.
“Revenues for the Companion Animal Identification group were down in the period as a result of continued competition in the market, however unit sales were slightly ahead of management expectations and revenues from related services derived from the microchip database continued to grow against the previous period. Our Animal Welfare group performed well, with revenues up during the period.”
Animalcare said its new product pipeline of licensed veterinary medicines has continued to deliver.
Three new products were launched in the year and a fourth received its marketing authorisation in June, with the launch expected in the first half of the current financial year.
In March, Animalcare completed its relocation to new premises in York, and said the site offers more capacity for future growth.
The company said: “The group remains firmly on track with its stated strategy of investing in intellectual property protected products and services that will deliver future sustainable growth, supported by Animalcare’s sound cash position.”
Animalcare has 55 employees including a field sales force of 15 representatives selling to all veterinary practices around the UK.
The group’s full year results will be announced on September 25.
