Business
Full year results 2021
Full year results 2021.
About this update from Animalcare Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3079G\n Animalcare Group PLC\n 29 March 2022\n \n \n \n \n Animalcare Group plc\n \n \n (\"Animalcare\", the \"Company\" or the \"Group\")\n \n \n Full Year Results for the year ended 31 December 2021\n \n \n \n \n \n \n 29 March 2022.\n \n Animalcare Group plc (AIM: ANCR), the international animal health business, announces its audited full year results for the year ended 31 December 2021.\n \n \n \n \n \n Financial Highlights\n \n \n · \n Revenues grew 5.0% to £74.0m (8.0% up at CER) on strong Companion Animals demand and contribution from new products\n \n \n · \n Improved gross margins drove double-digit increase in underlying* EBITDA to £13.5m as profitability benefited from continuing focus on top selling brands (2020: £12.1m)\n \n \n · \n Statutory profit before tax, incorporating non-underlying items of £0.9m (2020: £0.2m), with reported basic loss per share of 0.1 pence (2020: 0.4 pence profit per share) \n \n \n · \n Continued strong underlying* cash conversion of 108.8% (2020: 102.9%) reduced net debt to £5.3m at year end, further strengthening Group's capacity to support investment in growth strategy\n \n \n · \n Proposed final dividend of 2.4 pence per share (2020: 2.0 pence per share)\n \n \n \n Strategic and Operational Highlights\n \n \n · \n Daxocox approved in EU and UK and launched successfully across all markets, generating £1.2m in second half sales\n \n \n · \n Further optimisation of portfolio yields 8.3% increase in revenues generated by top 40 selling brands\n \n \n · \n Sandra Single joins Senior Executive Team in newly created Strategic Product and Portfolio Director role\n \n \n · \n Continuing investment in people focuses on Group-wide sales and marketing excellence and leadership development \n \n \n · \n Pipeline strengthened through post-period end early-stage licencing and collaboration agreement with Orthros Medical for innovative VHH antibodies therapy\n \n \n \n \n \n \n *\n \n \n Underlying measures are before the effect of non-underlying items which excludes fair value adjustments on acquired inventory, amortisation of acquired intangibles and acquisition and integration costs. A reconciliation to statutory measures is provided in the Chief Financial Officer's Review.\n \n \n \n \n \n \n \n Commenting on the full year results, Chief Exec...