Animalcare lifts FY profit

Veterinary and farming supplies company Animalcare revealed a modest rise in annual pre-tax profit, in line with company expectations, driven by growth in veterinary medicines across the year.Profit before tax rose to £1.53m for the year ended 30 June 2009 from £1.11m the year before. Revenue increased to £17.64m during the period from £11.76m before. "The granting and exploitation of regulatory approvals for licensed veterinary medicines has been the main engine of growth across the business during the financial year," Animalcare explained."The company is implementing plans to deliver organic growth from all areas of the business across markets that are either stable or growing," the group added.The board is recommending a dividend of 2.5p an increase of 11.1% over the previous financial year.