9th Jul 2015 08:07
LONDON (Alliance News) - Veterinary medicines supplier Animalcare Group PLC on Thursday said it expects revenue for the financial year to the end of June to increase and said underlying operating profit should be in line with market expectations.
The company said it expects revenue for the year to be GBP13.5 million, up from GBP12.9 million a year earlier. Underlying profit for the year is expected to be at least GBP3 million, up from GBP2.8 million a year earlier.
Revenue from its licensed veterinary medicines group rose by 8.8% to GBP8.6 million, up from GBP7.9 million, on the back of good sales of recently-launched products. But revenue in its companion animal identification fell by 4.5%, primarily due to phasing of export equine chip sales where a substantial order book was placed very late in the previous year.
Animal welfare products sales were up 2.6%, with an improvement in profitability as the group focused on higher-margin products.
Shares in Animalcare were down 0.5% to 220.00 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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