Animalcare profits rise 50 per cent

VET supplier Animalcare saw pre-tax profits rise by 50 per cent during what it described as a "transformational" year.

The Ripon-based company, which makes a number of medicines for treating cats and dogs, said pre-tax profit rose to 3.02m from 2.01m in the year ended June 30.

Revenue rose by 12.9 per cent to 19.92m and underlying operating profit increased to 3.14m.

Hide Ad
Hide Ad

The company said revenue from its companion animal division, which supplies medicines to vets, had seen a 15.7 per cent increase in revenue.

It added that it has become "virtually debt free" following the sale of its agricultural division to Tru-Test UK for 3.25m.

James Lambert, chairman of Animalcare, said: "2010 has been a transformational year for your company whilst still achieving all our financial targets. "

"Your company has achieved record sales, margins and underlying profits during the last financial year.

Hide Ad
Hide Ad

"Since the year end it has also become virtually debt free, after the proceeds from the sale of the agricultural business have been realised.

"With a simpler and more focused business, I believe your Board has put in place a strategy for optimising the growth in earnings per share of your Company for several years to come."

The board has proposed a dividend of 3p, up from 2.5p.

Related topics: