Business
Half Yearly Report
Half Yearly Report.
About this update from Animalcare Group Plc
[{"type":"text","content":"\n \nRNS Number : 5804O Animalcare Group PLC 10 February 2016 \n\n \nAnimalcare Group plc\n(\"Animalcare\" or the \"Group\")\n \nHalf Yearly Report\n \nAnimalcare Group plc (AIM: ANCR), a leading supplier of veterinary medicines, announces interim results for the six months ended 31st December 2015. The Board is pleased to report good progress during the period, achieving top line growth during a phase of significantly increased investment to execute the Group's strategy to drive growth from 2017 onwards.\nAnimalcare is made up of three product groups: Licensed Veterinary Medicines, Companion Animal Identification and Animal Welfare Products.\n \nFinancial Highlights\n\n\n\n\n \n\n\n6 months to\n31st Dec 2015\n\n\n6 months to\n31st Dec 2014\n\n\n% change\n\n\n\n\nRevenue\n\n\n£7.11m\n\n\n£6.93m\n\n\n+2.7%\n\n\n\n\n\n\nUnderlying* operating profit\n\n\n£1.55m\n\n\n£1.79m\n\n\n(13.2%)\n\n\n\n\nProfit before tax\n\n\n£1.53m\n\n\n£1.76m\n\n\n(12.9%)\n\n\n\n\nBasic underlying* earnings per share\n\n\n6.2p\n\n\n6.8p\n\n\n(8.8%)\n\n\n\n\nInterim dividend\n\n\n1.8p\n\n\n1.8p\n\n\n-\n\n\n\n\nProduct development expenditure\n\n\n£0.60m\n\n\n£0.20m\n\n\n+207.0%\n\n\n\n\nCash and cash equivalents\n\n\n£6.10m\n\n\n£5.04m\n\n\n+21.1%\n\n\n\n\n \n* Underlying measures are before the effect of exceptional and other items. These are analysed in note 3. \n \nOperational Highlights\n· Solid revenue growth from our Licensed Veterinary Medicines group, up 4.2% to £4.58m (2014: £4.40m) against strong comparatives which benefited from a circa £0.2m non-recurring benefit from sales of Buprecare as a result of competitor supply issues.\n· New mini microchip launched in a rapidly changing market.\n· Planned focus on our export business started in the period and already delivering commercial benefit. \n· Continued focus on investment to support future growth, reflected in the £0.16m increase in overheads and a three-fold increase in our product development pipeline expenditure to £0.60m.\n· Strong financial position maintained, with Group cash balances increasing by £0.32m to £6.10m since 30th June 2015. \n \nJames Lambert, Chairman of Animalcare Group plc, said: \"The business has cont...