Animalcare reports rise in revenue

York-based Animalcare said revenue increased by 7.9 per cent from £14.7m in the year ended June 30, 2016, to £15.87m for the year ended June 30, 2016.

Reported operating profit was down 7 per cent from £3.02m to £2.81m in the same period. EBITDA was up 13 per cent to £3.96m.

In the summer Animalcare acquired Ecuphar, a European animal health company that develops and sells veterinary pharmaceutical products.

Jan Boone, Chairman of Animalcare Group plc, said: “Since taking on the role of chairman at the time of the acquisition, the business continues to perform well.

“The reported results for Animalcare pre-acquisition provide a good reminder of the strength of the underlying business that, together with Ecuphar, has the ability to be a leader in the European animal health market.

“The pan-European business created represents a growing, cash generative and dividend paying company with a solid pipeline of new products.

“With the scale the enlarged group now enjoys and the opportunity for synergies creation and strong portfolio of new products, the Board reiterates its confidence in the enlarged group’s prospects for growth and expectations for earnings accretion in 2018 and beyond.”

Animalcare said Chris Brewster has been re-appointed to the board as Chief Financial Officer with immediate effect.

Following the group’s acquisition of Ecuphar in July 2017, Mr Brewster had stepped down from the board and became UK Country Manager of the Animalcare’s UK business. However, he has now been brought back.