LONDON (Thomson Financial) - Animalcare Group Plc. swung to a
first-half pre-tax loss on a fall in group turnover.
In the six months to Dec. 31, 2007 the company posted pretax loss of 7,000 pounds compared with a pretax profit of 143,000 pounds a year earlier.
Revenue fell to 3.4 million pounds from 3.7 million pounds a year earlier.
Animalcare said trading in the period had been challenging due to the damage suffered by the livestock industry from the disruption to livestock movements following the foot and mouth and bluetongue outbreaks.
The trading environment remains 'highly challenging' with significant reductions in livestock numbers expected, it said.
However, the company said trading in the second half is showing signs of improvement and that the outlook for the balance of the year appears favourable and in line with market expectations.
It expects the integration of Animalcare Ltd. to be completed in 2008 and that it will make good progress in establishing a platform for future, profitable growth, the company added.
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