LONDON (Dow Jones)--U.K. veterinary medicine supplier Animalcare Group PLC (ANCR.LN) Tuesday said it expects profits to be higher than market expectations for its last fiscal year after revenues rose 15%.
The company, which also manufactures and supplies livestock products such as identification ear tags and grooming products to agricultural retailers, said revenue in its Animalcare Ltd veterinary supplies business was approximately 20% ahead of the same period last year, helped by new launches such as the flavoured version of the generic heart drug Benazecare.
The board expects a number of new products to be launched in the coming financial year.
Revenues at its combined agricultural businesses -- Ritchey, Fearing International and Travik -- were about 9% ahead of the previous year, mainly due to the high sales of electronic sheep tags by Ritchey. Its fiscal year ended June 30.
It cautioned that trading at the agricultural division remains challenging. It said its review of the strategic direction of the unit has gone well and it expects to announce the outcome when it releases its preliminary results, due October 4.
-By Charlie Greenaway, Dow Jones Newswires; 44-20-7842-9284; email@example.com
Animalcare Group, a supplier of veterinary medicines, has said that its Project Quatto has received marketing authorisation from the Veterinary Medicines Directorate. The firm can now place the product on the market. The first sales are expected by the end of the current financial year. [23 Mar '12]
JP Morgan Russian Securities is trading at a discount to its net asset value of 727.53p as of March 15. It holds at 13.3% stake in Sberbank of Russia, 9.4% of retailer Magnit and 6.9% of miner Norilsk Nickel. Its largest investments are in the consumer staples, minerals and financial sectors. [20 Mar '11]
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.