Animalcare Grp Regulatory News (ANCR)

10 Jul 2008 07:00



Animalcare Group plc

Pre-Close Trading Statement

THURSDAY, 10 July 2008 -- Animalcare Group plc ("the Group" or "Animalcare"), the supplier of pharmaceutical and other products to the veterinary and agricultural markets, is pleased to issue a pre-close trading statement ahead of the publication of its preliminary results for the year to 30 June 2008. The results for the year include contributions for a full 12 months from the historic Ritchey agricultural business and for approximately 24 weeks from the Animalcare Ltd veterinary supplies business acquired in January 2008. 

The Board is pleased to report that it expects full year Group earnings to be in line with market expectations and that the integration of Animalcare Ltd is progressing satisfactorily.

The Animalcare Ltd veterinary supplies business is achieving the performance targets set at the time of the acquisition and the new product development programme is making good progress. The Board is confident in the potential of Animalcare Ltd to deliver substantial profit growth in the future. 

Following a particularly challenging first half, which suffered from outbreaks of Bluetongue and Foot & Mouth disease, the performance of the agricultural business improved considerably during the seasonally stronger second half. Higher selling prices and robust cost control substantially offset lower than expected second half sales, leading to slightly lower than expected profitability for the full year.

It is anticipated that the preliminary announcement of audited results for the year ended 30 June 2008 will be made on 30 September 2008.

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