Business
Pre-Close Trading Update
Pre-Close Trading Update.
About this update from Animalcare Group Plc
[{"type":"text","content":"\n \nRNS Number : 9621I Animalcare Group PLC 10 July 2013 \n \n\nAnimalcare Group plc\n(\"Animalcare\" or \"the Group\")\n \nPre-Close Trading Update\n \nAnimalcare (AIM: ANCR), a leading supplier of veterinary medicines, provides a pre-close trading statement ahead of the publication of its results for the year ended 30th June 2013.\n \nAnimalcare has traded in line with market expectations for the year. \n \nThe year has seen continued growth, with revenues 11% ahead of the previous 12 months. Latest market statistics show sales of veterinary medicines for companion animals in the UK to be flat; therefore Animalcare's growth is well ahead of the general market. This trend of growth across the Group is reflected in overall underlying earnings in line with expectations.\n \nThe performance of our core Licensed Veterinary Medicines group was particularly notable, with revenues up by 22% compared with the prior year. Revenues for the Companion Animal Identification group were down in the period as a result of continued competition in the market, however unit sales were slightly ahead of management expectations and revenues from related services derived from the microchip database continued to grow against the previous period. Our Animal Welfare group performed well, with revenues up during the period.\n \nThe new product pipeline of licensed veterinary medicines has continued to deliver. Three new products were launched in the year and a fourth received its Marketing Authorisation in June, with the launch expected in the first half of the current financial year.\n \nIn March, Animalcare completed its relocation to new premises in the York area smoothly with no disruption to business. The new premises offer a much improved and efficient working environment with significantly more capacity for future growth.\n \nThe Group remains firmly on track with its stated strategy of investing in intellectual property protected products and services that will deliver future sustainable growth, supported by Animalcare's sound cash position.\n \nFull year results will be announced on Wednesday 25th September 2013.\n \n \nFor further information, please contact:\n \n\n\n\n\nAnimalcare Group plc\n\n\nTel: 01904 487 427\n\n\n\n\nIain Menneer, Chief Executive Officer...