Last checked at 10 Jul 2013 07:00
Animalcare Group plc
("Animalcare" or "the Group")
Pre-Close Trading Update
Animalcare (AIM: ANCR), a leading supplier of veterinary medicines, provides a pre-close trading statement ahead of the publication of its results for the year ended 30th June 2013.
Animalcare has traded in line with market expectations for the year.
The year has seen continued growth, with revenues 11% ahead of the previous 12 months. Latest market statistics show sales of veterinary medicines for companion animals in the UK to be flat; therefore Animalcare's growth is well ahead of the general market. This trend of growth across the Group is reflected in overall underlying earnings in line with expectations.
The performance of our core Licensed Veterinary Medicines group was particularly notable, with revenues up by 22% compared with the prior year. Revenues for the Companion Animal Identification group were down in the period as a result of continued competition in the market, however unit sales were slightly ahead of management expectations and revenues from related services derived from the microchip database continued to grow against the previous period. Our Animal Welfare group performed well, with revenues up during the period.
The new product pipeline of licensed veterinary medicines has continued to deliver. Three new products were launched in the year and a fourth received its Marketing Authorisation in June, with the launch expected in the first half of the current financial year.
In March, Animalcare completed its relocation to new premises in the York area smoothly with no disruption to business. The new premises offer a much improved and efficient working environment with significantly more capacity for future growth.
The Group remains firmly on track with its stated strategy of investing in intellectual property protected products and services that will deliver future sustainable growth, supported by Animalcare's sound cash position.
Full year results will be announced on Wednesday 25th September 2013.
For further information, please contact:
Animalcare Group plc | Tel: 01904 487 427 |
Iain Menneer, Chief Executive Officer | |
Chris Brewster, Chief Financial Officer | |
Panmure Gordon (Nominated Adviser and Broker) | Tel: 0113 366 3179 |
Joanne Lake/Peter Steel | |
Walbrook PR Ltd | Tel: 020 7933 8780 or animalcare@walbrookpr.com |
Paul McManus | Mob: 07980 541 893 |
Helen Westaway | Mob: 07841 917 679 |
Notes to editors
Animalcare is a leading veterinary sales and marketing company based in York with 55 employees including a field sales force of 15 representatives selling to all veterinary practices around the United Kingdom.
Animalcare has developed a range ofgeneric veterinary medicines and animal identification products primarily to companion animal veterinary markets.
Animalcare operates in three product areas:
·; Licensed Veterinary Medicines - a range of branded veterinary licensed pharmaceuticals sold to veterinary professionals in the UK and selected markets in Northern Europe. The range can be divided into four main categories; antibacterials, anaesthetics and analgesics, Aqupharm intravenous fluids and vitamins & speciality pharmaceuticals.
·; Companion Animal Identification - Identichip is the pioneering microchip identification system in the UK. Animalcare also owns and operates the Anibase database; together the market leader in electronic identification for pets in the UK.
·; Animal Welfare - a range of products used by veterinary professionals in the diagnosis and care of their patients, for example intravenous infusion accessories, ophthalmic instruments, hygiene solutions and bandages and dressings.