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LONDON (Alliance News) - Veterinary medicines supplier Animalcare Group PLC on Wednesday said group revenue rose in the first half on the back of sales increases for its Licensed Veterinary Medicines and Companion Animal Identification businesses.
Animalcare said group revenue for the first half to the end of December was up 7.2% to GBP6.9 million from GBP6.5 million last year.
The revenue was boosted by a 10% increase in sales from its Licensed Veterinary Medicines business, up to GBP4.4 million from GBP4.0 million last year. The sales were driven higher by a combination of organic growth and a one-off gain from sales of its Buprecare product, resulting from supply problems for a competitor product. That gain offset lower-than-expected sales for some of its older, lower-margin pharmaceuticals.
Sales for the Companion Animal Identification arm rose 5% to GBP1.3 million from GBP1.2 million year-on-year. Microchip revenue rose in the half, and other products also performed well on the back of an increased marketing spend for the unit.
Animal Welfare revenue was broadly flat in the period at GBP1.3 million, though the fall was in line with guidance from Animalcare and was offset by an increase in gross profit as it moved away from less profitable products.
Animalcare said it is confident on its prospects for the full year.
Shares in Animalcare were untraded on Wednesday, having last traded at 168.80 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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