Pet drugs firm is confident about 2016 prospects

Pet drugs supplier '‹Animalcare '‹reported a 13 per cent decline in half year profits to £1.53m, but said this was due to a one-off sales benefit from one if its drugs the previous year and an increase in export revenues '‹which make less profit than UK sales.
By The Newsroom
Published 10th Feb 2016, 16:51 BST
Updated 10th Feb 2016, 16:55 BST

Animalcare also reported a five per cent fall in revenue ​at its animal microchipping business​ due to stiff competition in the market ahead of microchips becoming compulsory in April.

From April 6, all dogs must be microchipped and registered by the time they are eight weeks old.

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York-based Animalcare said the downturn in microchips was offset by an increase in its medicines division and it is confident ​about​ prospects for the full year.

Animalcare chairman James Lambert said: “The business has continued to perform well during the first six months of its financial year with sales up by 2.7 per cent to over £7.1m which is particularly pleasing against a very strong first half in 2015.”

Licensed veterinary medicines revenue rose 4.2 per cent to £4.6m. This was despite the impact of a £200,000 first half benefit in 2014 from sales of pet drug Buprecare as a result of competitor supply issues.

Animalcare’s CEO Iain Menneer said the companion animal microchipping market has become significantly more competitive ahead of compulsory microchipping.

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