PET drugs firm Animalcare said recent trading has “satisfactory”, boosted by new product launches.
The York-based company, which makes medicines for cats, dogs and other pets, will tell shareholders at its annual meeting in Wetherby today that trading continues in line with the board’s expectations.
In September it launched an antibiotic for cattle called Tilmodil and earlier this month also launched Torphasol, an analgesic for horses, and Detonervin, an equine sedative. It plans to launch Emdocam Equine, an anti-inflammatory for horses, very soon.
The company added a “very important addition to our range” has finished its regulatory passage and it expects to launch the new product in the near future.
“It has been our recent aim to launch four new generic veterinary medicines each year,” said the company. “This was achieved last year through the launch of Anivac VHD, Florgane, Sedastart and Sedastop and we are very pleased that we have launched four new products so early in our financial year with a fifth product looking to launch in the near future.”
Animalcare recently reported a 21 per cent rise in ongoing underlying pre-tax profits to £3m in the year to June 30 on the back of a five per cent increase in sales to £11.8m.
It added underlying cash flow has been good and it plans to pay shareholders a final dividend of 3p per share on 7 November.
“We understand market conditions remain tight, but Animalcare continues to trade well and the organic growth in the veterinary medicines portfolio should allow Animalcare to generate growth ahead of the market,” said analysts at house brokers Brewin Dolphin.