Business
2018 Full Year Results
2018 Full Year Results.
About this update from Animalcare Group Plc
[{"type":"text","content":"\n \nRNS Number : 5220X Animalcare Group PLC 30 April 2019 \n\n30 April 2019\n \nAnimalcare Group plc\n(\"Animalcare\", the \"Company\" or the \"Group\")\nFull Year Results for the 12 months ended 31 December 2018\n \nAnimalcare Group plc (AIM: ANCR), the European Animal Health business, announces its full year results for the year ended 31 December 2018.\n \nFinancial Highlights\n \n· Reported revenue growth of 16.3% to £72.5m (2017: £62.3m)\no Up 2.7% on a proforma basis\n \n· Underlying* EBITDA increased by 21.7% to £11.8m (2017: £9.7m)\no Up 2.8% on a proforma basis\n \n· Statutory loss before tax, which incorporates non-underlying items, decreased to £0.4m (2017: £0.4m profit) with reported basic loss per share decreased to 1.7p (2017: 0.2p earnings per share) \n \n· Improved underlying* cash conversion to 79.9% (2017: 65.9%) with net debt reduced by £2.3m to £23.6m\n \n· Proposed final dividend of 2.4 pence per share giving a total dividend of 4.4 pence per share for 2018\n \nOperational Highlights (including post-period)\n \n· Jenny Winter, formerly of AstraZeneca, appointed Chief Executive Officer in October 2018 \n \n· Leadership team strengthened by appointment of Group Functional leaders in Supply Chain, Commercial, New Product Opportunities (CSO) and Technical / Regulatory functions and HR. In addition, we have appointed new country managers in Spain, the UK and Belgium\n \n· Portfolio prioritisation performed including the sale of the non-core Wholesale business in Q3 2018, in line with focus on the higher-margin veterinary pharmaceuticals business \n \n· Ten new products launched in 2018 with an additional six submissions made for products that are scheduled for launch in 2019 or early 2020\n \n· Strategy was focussed to reflect the new combined Animalcare group and was approved by the Board post period. It builds on the experience and success of the legacy companies and reflects the rapidly growing and changing marketplace. The Board believe the five strategic priorities below will driv...