New products fuel growth for Animalcare

Veterinary medicines supplier Animalcare says its core operations grew revenues by 10% in the six months to December 2010.AIM-quoted Animalcare is growing on the back of new products. They tend to take around three years to mature and there is a pipeline of new launches. Two products were launched in September and two third-party distribution products will be launched in the next couple of months. New pharmaceutical products grew revenues by 28% in the first half. Disposals of non-core agriculture-related operations meant that Animalcare had net cash at the end of 2010. House broker Brewin Dolphin is sticking with its full year profit forecast of £3.1m but it believes there could be scope for an upgrade at the time of the interims. The interim figures will be released on 17 February.