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Animalcare management is confident about the new supply of Buprecare ampoules and is also confident that levels of sales similar to those prior to the supply disruption will be reached. The Company is now focusing on bringing the product back to market. Buprecare multidose vial, an analgesic for cats and dogs launched in March 2012, continues to sell well. Its strong performance is expected to complement the sale of the ampoule product. Stephen Wildridge, CEO of Animalcare Group plc, commented: "It was very disappointing to lose our marketing leading product Buprecare ampoules so abruptly however after some excellent work from the Animalcare team in identifying and working with a very competent manufacturer we are now back in a market that has been eagerly awaiting our return and with a supplier that puts us in an even stronger position. It's a very good way to start 2013."
Animalcare Group plc (AIM: ANCR), a leading supplier of veterinary medicines, is pleased to announce that the sale of Buprecare single dose ampoules has resumed following the break in supply announced in July 2011. Animalcare received notification from its previous supplier of Buprecare single dose ampoules, the contract manufacturing group Recipharm, in July 2011 that they would be closing their sterile injectable production unit with immediate effect. This resulted in the immediate supply disruption of ampoule product to the UK and European markets. A new contract has been signed with a German multinational contract manufacturer with a substantial sterile injectables facility in France and that facility has now been approved to manufacture Buprecare single dose ampoules. Buprecare single dose ampoules from the new supplier are now available for sale in all previously supplied markets in the UK and Europe.
ANIMALCARE has assured shareholders the business is trading "comfortably ahead" of last year. The veterinary supplies business endured a difficult 12 months culminating in a 21.7% fall in underlying pre-tax profits for the year to the end of June. But ahead of its annual general meeting in Wetherby today, the company was more upbeat on its performance. It told shareholders the York-based company had continued its progress in the first four months of the trading year and was performing in line with market and board expectations. The company is already receiving repeat orders for a new canine ageing tablet, one of four new products it is looking to launch this year. Animalcare said the strength of its underlying cash flow last year had continued into the first quarter of its current trading year.
Animalcare, a veterninary products group, has produced an anaemic set of full-year results with both turnover and profits below last year's levels. For the full year ended June 30th, revenue was down 8.2% at £10.9m with pre-tax profits down 27.5% at £2.1m. The results were in line with the profit warning given earlier this year. A slight positive was growth in its veterinary medicines business. Analyst Chris Glasper from House broker N+Singer writes: 'Key to the investment case remains organic growth in the Vet Meds category, with underlying growth continuing at 17%, well ahead of the market. "The regulatory approval already of the first two of a planned four new products in the year bodes well for sustaining this momentum, and the re-launch of Buprecare in calendar year 13 should help further." The company reports that current trading is "comfortably above" the same period last year so the hope is that its move up the value chain won't leave investors feeling as sick as a parrot.
A nice little business, good cash generator. Should be interesting to see if it retains cash (which I expect) in order to fund an aquisition (let's hope there is not a call for investors to put up more cash) or return cash as a dividend which would be sign of uncertainty. When compared say to Dechra there is an expanding market here and ANCR's performance shows it has the right strategy and internal strengths to do well but it needs to leverage off its inherent financial and group trading skills a bit more and try to avoid another dropped ball. If it can do that we might see 180 within 12 months
Prospects The Board believes with the focus on growing our Companion Animal Identification business, the resumption of supply of Buprecare ampoules, and the planned launch of four new licensed veterinary products during the financial year Animalcare should return to growth. Your Board is encouraged by current trading for the beginning of the new financial year.
James Lambert, Chairman of Animalcare, said: "As anticipated, this has been a difficult year for Animalcare but I believe the measures the Board has taken during it will see the business beginning to grow again during the current financial year. The board believes with the focus on growing our Companion Animal Identification business, the resumption of supply of Buprecare ampoules, and the planned launch of four new licensed veterinary products during the financial year Animalcare should return to growth. Your Board is encouraged by current trading for the beginning of the new financial year."
Operational Highlights · Launch of five new generic veterinary medicines during the year · Growth in UK sales of licensed veterinary medicines significantly ahead of market · Development pipeline on track for products already in regulatory review and new products in development · Successful development and implementation of new identification microchip database · Strong net cash flow from operating activities of £1.1m (2011: cash outflow £0.4m) Post-period end · Launch of Vitofyllin in the UK and Ireland in a market worth approximately £1.5m per annum
Full Year Results Animalcare Group plc ("the Group" or "Animalcare"), a leading supplier of veterinary medicines, announces results for the year ended 30 June 2012. Animalcare is made up of three product groups: Licensed Veterinary Medicines, Companion Animal Identification and Animal Welfare products. Financial Highlights · Revenue from continuing operations down 8.2% to £10.9m (2011: £11.8m) o Sales of licensed veterinary medicines (excluding Buprecare ampoules) up 16.8% · Underlying profit before tax from continuing operations* down 21.7% to £2.3m (2011: £3.0m) · Underlying basic earnings per share* down 25% to 8.8p (2011: 11.8p) · Year end cash position grew from £1.18m to £2.3m · Total dividend for the year up 12.5% to 4.5p (2011: 4p) * Underlying measures exclude, where applicable, amortisation of acquired intangibles, impairment of goodwill, fair value movements on interest hedging, impairments to current and non-current assets and other charges relating to Group reorganisation.
http://www.investegate.co.uk/Article.aspx?id=201210040700098871N
From the business desk ANIMALCARE has launched a new product to targeting the ageing dogs market. Vitofyllin stimulates the central nervous system in older dogs and is targeted at a market worth around £1.5m in the UK and Ireland. Animalcare chief executive Stephen Wildridge said: "We are very pleased to be able to add our new generic medicine Vitofyllin to our range of licensed veterinary medicines. T "The launch represents the culmination of the biggest development project undertaken by Animalcare and is the product of successful collaboration with members of our European partnership network."
Given Dechra's movement ANCR's movement is a bit overdone. My others thoughts are 1) They recently elevated the MD to the role of group CEO. Why, the company is only 50 people strong? I guess a smaller company is being hunted? 2) pet taging revenue ought to be pretty stable and they could win some more tag management (they have a couple of competitors) 3) new pet drugs, any more in the pipeline
Valuation: DCF and multiples valuation of £30.6m We have lowered our valuation from £35m to £30.6m or 148p/share, largely because of the profits warning and decline in identification product sales. This reduction of 12.6% compares to a 23% share price fall since Animalcare’s trading update and profit warning. Thus, we believe there has been an overreaction to the company’s difficulties
market makers shaking?
Veterinary products group Animalcare has warned that the impact of the weak revenue trend in companion animal identification means that profit before tax is now expected to be materially below market expectations, with second half pre-tax profit now expected to be similar to the first-half. This is partly the result of the fact sales in its companion animal identification business in the year-to-date are around 32% lower than the comparable period and that it expects sales in this area will remain subdued for the rest of the current financial year. The core veterinary business is performing in line with expectations, with revenues in the year-to-date around 4.0% higher, and excluding the effect of the temporary supply disruption of Buprecare ampoules, the progression in veterinary medicines is around 15% above last year. The group retains a confident outlook and has implemented several measures to improve gross margin in 2013 and beyond.
So I was wrong :-)
Animalcare (AIM: ANCR), the supplier of pharmaceutical and other premium products and services to the veterinary industry, announces the following trading update. As stated in the interim results reported in February 2012, trading performance from continuing operations for the financial year ended 30 June 2012, was expected to be more second half weighted than in prior years. As previously indicated, reduced consumer confidence in general along with changes in distribution and service agreements is significantly impacting the Group's companion animal identification business. Year-to-date sales performance in this area of the Group's business is approximately 32% below that of the comparable period and has not shown the anticipated recovery. We expect that sales in this area will remain subdued for the rest of the current financial year. The core veterinary medicines business has continued to perform in line with our expectations and revenue to April is approximately 4% above last year. Removing the effect of the temporary supply disruption of Buprecare ampoules, the progression in veterinary medicines is approximately 15% above last year. We expect this performance to continue to the end of the financial year. As reported, the Buprecare ampoule supply issues have been addressed and we expect that sale of ampoules will resume in the next year. Despite the continued focus on cost control, the impact of the weak revenue trend in companion animal identification means that profit before tax is now expected to be materially below market expectations. Second half pre-tax profit is now expected to be similar to the first-half. Looking beyond the current financial year, the Board remains confident of the Group's outlook. We are not anticipating any near term major recovery in sales of identification microchips and associated services but have implemented new database initiatives that we expect to positively impact the segment, as well as measures to improve gross margin durably. Strong progress continues to be made in veterinary medicines, with our target of four new product launches expected to be achieved during the course of 2013 as well as the planned resumption of sales of Buprecare ampoules. These initiatives, when combined with our new product launches, are expected to lift the growth rate of the business during 2013 back to the levels recently enjoyed. The Group remains debt free and continues to generate positive operating cashflows with cash in line with management expectations. Full year results for the year ending 30 June 2012 will be announced in September 2012.
Given that companion animal medicine and insurance will have good cash flow if Greece stays in the Euro or not this cliff drop looks like a good buy opportunity to me. I see DPH has not fallen
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.
Stephen Wildridge, CEO of Animalcare Group plc, said: "The continued growth of our licensed veterinary medicines portfolio is an important aspect of our growth strategy. As we announced at our recent Interim Results, the trading in our core business is driven by new product introductions through the year and the news that the development of Project Quattro is advancing as planned is further testament to the delivery of our strategy."
Marketing Authorisation for Project Quattro Animalcare Group plc (AIM: ANCR), a leading supplier of veterinary medicines, announces that Project Quattro, a product from Animalcare's development pipeline, has received Marketing Authorisation from the Veterinary Medicines Directorate. Receipt of Marketing Authorisation is a prerequisite for placing a new veterinary medicinal product on the market, after routine approvals for product packaging, allowing Animalcare to make final preparations for a full commercial launch. For commercial reasons the full details of Project Quattro will be given at launch, with first sales expected to take place by the end of the current financial year (30 June 2012).
http://www.investegate.co.uk/Article.aspx?id=201203230700149005Z
James Lambert, Chairman of Animalcare said: "During the past financial year and now in the current one, there has been little or no growth in the veterinary medicines market in the UK. However, with the launch of several new veterinary drugs in the first quarter building on those introduced during the last financial year, and with the reintroduction of Buprecare, your Board believes that we will continue to grow the business markedly faster than the market overall and increase our market share . Trading in the year to date has started in line with your Board's expectations."
Animalcare Group plc ("the Group" or "Animalcare"), a leading supplier of veterinary medicines, announces results for the year ended 30 June 2011. Following the disposal of Animalcare's livestock businesses during the year the comparatives below are restated to show discontinued operations separately and so give more accurate understanding of the underlying business performance. Financial Highlights · Revenue from continuing operations up 5.4% to £11.8m (2010: £11.2m) · Underlying operating profit from continuing operations* up 17.3% to £3.05m (2010: £2.60m) · Underlying profit before tax from continuing operations* up 21.0% to £3.00m (2010: £2.48m) · Underlying basic earnings per share* up 5.4% to 11.8p (2010: 11.2p) · Final dividend of 3p bringing total dividend for the year of 4p (2010: 3p) · Debt free with cash balances of c £1.2m (2010: net debt of c. £2.9m) * Underlying measures exclude, where applicable, amortisation of acquired intangibles, impairment of goodwill, fair value movements on interest hedging, impairments to current and non-current assets and other charges relating to Group reorganisation. Operational Highlights · Divestment of the Livestock Division with focus now fully on the Companion Animal Division · Launch of four new generic veterinary products during the year · Good pipeline of new products for launch later in the year · Reorganisation of the structure of the UK sales force