Animalcare powers ahead

VET supplier Animalcare reported a 10 per cent rise in sales at its core pet drugs division and said performance has been good across all its product areas.

The York-based company said revenues from new products rose 28 per cent while revenues from other products were up six per cent.

The group said that following the disposal of its agriculture business and the loss making cleaning products division last September, the group has significantly reduced its level of outstanding loans.

These now stand at 1m, down from 4.5m at the end of June, and the business was net cash positive at the end of December.

The group said the short and medium term pipeline of new products is strong and it is confident the business will make good progress in the remainder of the financial year.