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Peter Lawrence, Executive Chairman of ECO Animal Health Group plc, commented: “ECO Animal Health Group has delivered another strong set of results for the year ended 31 March 2012 and the current year has started well. We are confident that the long awaited marketing authorisations in the US and Canada will have a major positive effect on the development of ECO, although it will be some months before the product launches gain momentum. We do not expect a noticeable impact on our financial performance until next year. ECO is very well placed to further broaden its product ranges and its global reach will ensure that it capitalises on opportunities as they arise in all the Company’s major markets. The Company is set for an exciting future and looks forward to maximising value for shareholders”
ECO Animal Health Group plc (AIM: EAH) Results for the year ended 31 March 2012 HIGHLIGHTS First Aivlosin® marketing authorisation for US received after year end, further approvals expected 31.8 per cent increase in profit after tax to £2.6 million (2011: £2.0 million) 41.6 per cent uplift in diluted earnings per share to 4.19 pence (2011: 2.96 pence) Rise to £6.5 million (2011: £6.4 million) in profit attributable to shareholders before interest, tax, depreciation, amortisation, share based payments, impairment, foreign exchange and minorities. 25 per cent increase in dividend to 3.75 pence per share (2011: 3.0 pence) Net cash of £9.5 million at year end Continuing strong Aivlosin® sales in key markets New subsidiary formed in Mexico
http://www.investegate.co.uk/Article.aspx?id=20120720070000Z5683
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A toe hold in the States - excellent news - certainly provides potential and opportunity
Peter Lawrence, chairman of ECO said: “We are delighted to receive our first marketing authorisation in the United States. This key milestone follows some 12 years of investment in product development and regulatory activity in North America. The USA represents more than one third of the world market for our products and this breakthrough will benefit our future profitable growth. It is a significant milestone on the road to making ECO one of the most important global animal health companies”.
NOTIFICATION OF DATE OF RESULTS ANNOUNCEMENT ECO is pleased to report that the Center for Veterinary Medicine (CVM) of the Federal Drug Administration (FDA) has granted ECO a marketing authorisation in the United States for Aivlosin® 625 mg/g water soluble granules for swine. The FDA’s approval is ECO’s first in the United States and marks a very important step in the Company’s continuing development of Aivlosin® as a global veterinary product. It follows the recent Canadian approval of this formulation and further extends the marketing reach of Aivlosin®, ECO’s patented macrolide antibiotic, which is used for the treatment of respiratory and enteric (gut) diseases in pigs and poultry. ECO established a joint venture sales and marketing company, Pharmgate Animal Health LLC, in the USA in 2010 to prepare for the launch of Aivlosin®. The authorised formulation of Aivlosin® will be marketed in the US for the treatment of ileitis (porcine proliferative enteropathy (PPE)), an enteric disease of swine. Aivlosin® water soluble granules dissolve readily in water providing a simple solution for the accurate and simultaneous treatment of large numbers of animals. Importantly, with global concerns about the use of antibiotics in production animals, this new treatment with its therapeutic dose rate, short treatment duration and zero day drug withholding period meets the current guidelines for the judicious use of antimicrobials.
http://www.investegate.co.uk/Article.aspx?id=20120710070000Z3904
Peter Lawrence, Chairman of ECO Animal Health Group plc, commented: “The second half has started well. Based on orders booked for delivery in the third quarter, total sales after nine months should be comfortably ahead of last year. The approval for Aivlosin® in Canada is another important step in the Company’s global marketing plans; sales will commence after the end of the current financial year. ECO’s recent additional investment in people and new offices, ahead of imminent further marketing approvals, reflects management’s confidence, despite continuing worldwide troubled economies, in the future of the business and its ability to drive growth.”
ECO Animal Health Group plc Interim Results for the six months ended 30 September 2011 Key features Profit for the period from continuing operations rose to £0.44 million (2010: £0.42 million) EBITDA and before share based payments was unchanged at £2.2 million (2010: £2.2 million) Basic earnings per share increased over 50 per cent to 0.53 pence (2010: 0.35 pence) Aivlosin® approval in Canada will have significant impact in next financial year Preparations for launch of Aivlosin® in USA continue Strong performances in major markets – Latin America, Asia and Middle East Net cash at period end of £8 million after spending £2 million on further drug registration work and the annual dividend
http://www.investegate.co.uk/Article.aspx?id=20111212070000Z2747
Some blue here today and again when the FDA approval comes through. Looking good
OUTLOOK The year has started well with positive trends in many of our key markets. Demand from China, our largest market, is strong and we continue to build our presence there and in our other important territories. We remain optimistic that we shall soon receive FDA clearance to commence sales of Aivlosin® in the US, a step which will have a very significant and exciting impact on the development of the company. Overall, Eco is well positioned with an excellent product range, exciting growth opportunities and potentially very important new products in the development phase. The company is poised to accelerate its growth and continue to deliver value to its shareholders.
Peter Lawrence, Executive Chairman of ECO Animal Health Group plc, commented: “ECO Animal Health Group has delivered another strong set of results for the year ended 31 March 2011 and the current year has started well. Demand from China, our largest market, is strong and we continue to build our presence there and in our other important territories. We remain optimistic that we shall soon receive FDA clearance to commence sales of Aivlosin® in the US, a step which will have a very significant and exciting impact on the development of the company. Overall, Eco is well positioned with an excellent product range, exciting growth opportunities and potentially very important new products in the development phase. The company is poised to accelerate its growth and continue to deliver value to its shareholders.”
Results for the year ended 31 March 2011 HIGHLIGHTS Over 16 per cent increase to £6.4 million (2010: £5.5 million) in profit attributable to shareholders before interest, tax, depreciation, amortisation, share based payments, impairment, foreign exchange and minorities. 24.4 per cent advance in turnover on continuing activities to £27.1 million (2010: £21.7 million) 30 per cent uplift in dividend to 3.0 pence per share (2010: 2.3 pence) £8.5 million of cash generated from operating activities during year (2010: £3.3 million) Aivlosin® sales advance over 30 per cent. Over 30 per cent total sales growth in key emerging markets – China, India and Latin America Aivlosin® manufacturing facility approved by US Federal Drug Administration Sales of antiparasitic drugs (Ecomectin®, Ecotraz and others) benefit from increased demand in China, Japan and South Africa and the launch of the Ecomectin® range in Mexico.
http://www.investegate.co.uk/Article.aspx?id=20110722070000Z2392
These sort of figures must surely make this a good blue today
Peter Lawrence, Chairman of ECO Animal Health Group plc, commented: “The momentum of the first half of the year is being maintained, boosted by further sales growth in our main markets. Overall we look forward with confidence, well placed to deliver another period of sound performance”
Key features Turnover on continuing operations rises 39 per cent to £12.3 million (2009: £8.9 million). EBITDA and before share based payments increases 15 per cent to £2.24 million (2009: £1.94 million) Aivlosin® sales 55 per cent ahead of same period last year Preparations for launch of Aivlosin® in USA continue Strong performances in major markets - China, Japan and Latin America Net cash at period end of £9.8 million
http://www.investegate.co.uk/Article.aspx?id=20101208070000Z1463
http://www.investegate.co.uk/Article.aspx?id=20081107070000W2455.
Noticed this Stock rising over recent weeks, good reports during September. I wonder how high this will go. A good sector that is proving to be somewhat healthier than most and perhaps proving to be a good defensive sector during the cascading Market. However, be cautious of chasing the Dragon, there will of course be some profit taking I would have thought. We shall see!