Animalcare reveals strong earnings growth

RIPON-based pet drugs company Animalcare today revealed that its revenue grew towards the end of 2009 as Britons continued to lavish care on their pets.
By The Newsroom
Published 22nd Feb 2010, 08:41 BST

Over the six months ended December 31 2009, revenue rose 15 per cent to 8.93m, while EBITDA (earnings before interest taxation, depreciation and amortisation) increased by 26 per cent to 1.21m

The company said that veterinary medicines sales growth had been driven by product development

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James Lambert, the chairman of Animalcare said: "I am pleased to report strong growth in revenue and EBITDA, especially in our companion animal business.

"Although the market for our key livestock products is challenging we anticipate trading to improve in the second half of the year and are confident that our licensed veterinary medicines will continue to deliver revenue and profit growth in line with expectations."

He said the board would continue to focus on delivering strong profit growth behind organic sales growth and, in line with the company's strategy, it will consider acquisitions that strengthen its market position and enhance earnings.