Animalcare sees lower first half sales

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PET medicines group Animalcare said first half revenues will be 10 per cent lower than last year, partly due to temporary supply problems with its key product Buprecare.

The York-based company said that good progress has been made on the re-introduction of Buprecare products and the other core veterinary medicine business has held up well.

Another negative factor is the impact that general economic conditions are having on sales of pet identification microchips and related goods and services.

The group said trading from continuing operations in the year to date continues to be in line with market expectations for the full year, although performance is expected to be more second half weighted than in prior years.

The group said revenues from its pipeline of new vet drugs continue to grow strongly, with sales of products launched in the previous year showing a 115 per cent increase year on year.

Animalcare said that while the overall veterinary market remains fundamentally, segments that are more exposed to discretionary spend by pet owners are not immune from the general economic climate.