Animalcare outlooks looks healthy

VET supplier Animalcare said today that half-year pre-tax profit had increased by nearly 50 per cent and that it was planning more product launches.

The Ripon firm - which last year sold livestock tagging business Ritchey in Masham and Fearing International in Northampton to Tru-Test UK, a subsidiary of Tru-Test, a New Zealand agricultural technology company - said profit before tax from continuing operations for the six months to 31 December 2010 rose to £1.38m, up from £940,000 for the same period in 2009.

Revenue from continuing operations also rose to £5.99m, up from £5.37m.

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James Lambert, chairman, said the firm was confident that growth would be stronger thanks to recently launched products and planned launches of new generic licensed veterinary medicines.

“Although the companion animal veterinary medicines market continued to grow in 2010 estimated at around 1.5 per cent, the growth is lower than in the recent past.

“The market’s growth is being maintained by owners’ continuing willingness to care for their pets and the increasing numbers of new treatments and products entering the market.

“(The firm) expects the growth of the market to continue at approximately these levels for the remainder of 2011.”