Animalcare Group PLC - York-based veterinary sales and marketing - For 2021, expects revenue to increase 5% at GBP74.0 million from GBP70.5 million,due to double digit growth in sales from Companion Animals, reflecting a rise in pet ownership and the easing of Covid restrictions compared to 2020.
Revenue also benefits from growth in new products, including Daxocox, launched as a treatment for osteoarthritis-related pain in dogs.
As a result, earnings are to be line with market expectations, and the company expects that the rate of growth for underlying earnings before interest, tax, depreciation and amortisation will be ahead of revenue, due to a higher margin sales mix.
"The continuing evolution of our product portfolio and the successful launch of Daxocox were important contributors to the group's very positive trading performance in 2021. Looking to the future, the further strengthening of our balance sheet provides us with increased capacity to invest in our long-term growth strategy," said Chief Executive Officer Jenny Winter.
Animalcare will publish its annual results on March 29.
Current stock price: 329.00 pence
12-month change: up 64%
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
Animalcare Grp (ANCR)