Less Ads, More Data, More Tools Register for FREE

Pin to quick picksEco Animal Share News (EAH)

Share Price Information for Eco Animal (EAH)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 250.00
Bid: 240.00
Ask: 260.00
Change: 0.00 (0.00%)
Spread: 20.00 (8.33%)
Open: 250.00
High: 250.00
Low: 240.00
Yest. Close: 250.00
EAH Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

ECO Animal Health Axes Dividend Amid Weaker Interim Performance

Tue, 31st Dec 2019 07:47

(Alliance News) - ECO Animal Health Group PLC on Tuesday deferred on the payment of a dividend, following a challenging first half caused by difficult trading conditions.

For the six months to the end of September, the animal health drugmaker reported a pretax profit of GBP1.0 million, down 81% from GBP5.3 million the year before.

This was on revenue that declined by 4% to GBP28.7 million from GBP30.0 million, mainly driven by weaker performances in China and North America.

For China, revenue declined by 53% to GBP5.6 million. ECO attributed this to the impact of African Swine Fever in the country, leading to a sharp drop in the population of Chinese pigs.

There was also the uncertainty caused by the ongoing trade war between the US and China.

Meanwhile in the US, revenue dropped by 21% to GBP3.7 million, as increased pork production numbers and the loss of Chinese exports led to an excess of pork supply.

This meant that substantial discounts had to be made to major pork producers in order to retain existing business, leading to a reduction in average gross margins in the period to 43% from 49%.

ECO deferred the payment of an interim dividend, citing "due regard" to its operating cash flow, investment in a new product pipeline and its current trading conditions.

For the same period the year before, ECO made a 4.0 pence per share payout.

Looking ahead, ECO said that easing trade tensions between China and the US could mean improved industry margins for the company, leading to the reduction of discount programmes in 2020.

Although the company remains uncertain on whether the poor trading conditions will improve going forward, it expects to report a significantly stronger second half of its financial year.

"We have had a challenging start to the first half of the year, but we now see signs that point to improved performance in the second half due to encouraging signs of early recovery in China as key producers build sow numbers and pork export and prices in North America improve. Our investments in R&D to generate future products and growth continue to progress as planned," said Chair Andrew Jones.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

More News

IN BRIEF: Eco Animal Health Gets EU Authorisation For Aivlosin In Pigs

IN BRIEF: Eco Animal Health Gets EU Authorisation For Aivlosin In Pigs

30 Jun 20 06:46

UK TRADING UPDATE SUMMARY: XLMedia To Sell Finnish Casino Assets

UK TRADING UPDATE SUMMARY: XLMedia To Sell Finnish Casino Assets

10 Jun 20 13:15

Eco Animal Health shares surge as strong trading continues

(Sharecast News) - Shares in animal pharmaceuticals group Eco Animal Health surged on Wednesday after revealing that strong trading in China and US during the second half of its last financial year had continued into the current period.

10 Jun 20 10:05

Eco Animal Health gets positive opinion from EMA on Aivlosin use

(Sharecast News) - Eco Animal Health Group announced on Friday that it has received a positive opinion from the European Medicines Agency (EMA) for the use of 'Aivlosin' 625 mg/g water soluble granules for the treatment and metaphylaxis of mycoplasma hyopneumoniae in pigs.

22 May 20 16:03

UK EXECUTIVE CHANGE SUMMARY: Corero Hires Former CML Finance Director

UK EXECUTIVE CHANGE SUMMARY: Corero Hires Former CML Finance Director

27 Apr 20 13:52

ECO Animal Health Gains Approval For Use Of Aivlosin In Indonesia

ECO Animal Health Gains Approval For Use Of Aivlosin In Indonesia

30 Jan 20 18:30

US and China struggles drag on Eco Animal Health

(Sharecast News) - Eco Animal Health reported a "challenging" first half on Monday, reporting sales of £28.7m, down from a restated £30.0m in the first half of 2018.

31 Dec 19 10:44

ECO Animal Health Axes Dividend Amid Weaker Interim Performance

ECO Animal Health Axes Dividend Amid Weaker Interim Performance

31 Dec 19 07:47

UPDATE 2-Rising HK tensions, trade angst knock FTSE; domestic shares rally

* FTSE 100 down 0.4%, FTSE 250 up 0.3%* Stocks vulnerable to Asia dive on Hong Kong tensions* Trade sentiment uncertain* Baker Greggs jumps after forecast upgrade* Election update lifts pound, domestic stocks (Adds news items, analyst comments, upda...

11 Nov 19 09:26

ECO Animal Health Shares Fall As African Swine Fever To Hurt Earnings

ECO Animal Health Shares Fall As African Swine Fever To Hurt Earnings

11 Nov 19 09:19

Eco Animal Health slumps on profit warning

(Sharecast News) - Veterinary pharmaceuticals developer Eco Animal Health issued a profit warning on Monday, saying it was hit hard by a recent outbreak of the fatal African swine fever across China and the lingering effects of the US' protracted trade war with the Asian nation.

11 Nov 19 08:06

UK Dividends Calendar - Next 7 Days

UK Dividends Calendar - Next 7 Days

9 Oct 19 16:13

UK Shareholder Meetings Calendar - Next 7 Days

Friday 13 SeptemberSVM UK EmergingPanthera ResourcesMonday 16 (re acquisition by AI Convoy 17

12 Sep 19 16:19

ECO Animal Health Inks Another Pirbright Pact For Poultry Vaccine

(Alliance News) - ECO Animal Health Group PLC on Wednesday said it has signed a second research partnership with the UK's Pirbright Institute to develop another chicken vaccine.This is

11 Sep 19 12:22

ECO Animal Health Chair Wood Stands Down; Jones Appointed Interim

(Alliance News) - ECO Animal Health Group PLC said Thursday Chair Richard Wood has resigned with Non-Executive Director Andrew Jones stepping up on an interim basis until a replacement is - chair

22 Aug 19 11:56

Login to your account

Don't have an account? Click here to register.