Business
Half-yearly report
Half-yearly report.
About this update from Eco Animal Health Group Plc
[{"type":"text","content":"\n 26 November 2009\n ECO Animal Health Group plc\n\n Interim Results for the six months ended 30 September 2009\n\nKey features\n· Turnover on continuing operations rises 11 per cent to £8.9 million\n (2008: £8.0 million).\n· EBITDA and before share based payments increases 32 per cent\n to £1.94 million\n (2008: £1.47 million)\n· Aivlosin® sales 10 per cent ahead of same period last year\n· Further Aivlosin® marketing authorisations granted in Europe\n· Strong performances in China and Latin America\n· Net cash at period end of £3.2 million\n\nPeter Lawrence, Chairman of ECO Animal Health Group plc, commented:\n\n \"The progress made in the first half of the year should continue, helped by the\nrecent new marketing authorisations that we have gained. Our balance sheet\nremains debt free and although market conditions will undoubtedly remain\nchallenging, we look forward with continued confidence and optimism to\ndelivering further value to our shareholders\"\n\nContacts:\n\nECO Animal Health Group plc\nPeter Lawrence 020 8336 6190\n\nSpiro Financial\nAnthony Spiro 020 8336 6196\n\nCenkos Securities plc (Nominated Adviser)\nStephen Keys 020 7397 8926\nElizabeth Bowman 020 7397 8928\n\n\nECO Animal Health Group plc is a leader in the development, registration and\nmarketing of pharmaceutical products for animals. Our products for these global\ngrowth markets promote well-being. Our financial goals are achieved through the\ncareful and responsible application of science to generate value for our\nshareholders.\n\n\nEco Animal Health Group plc\nChairman's statement\n\nI am pleased to report that we have maintained the good progress reported in my\nstatement last July and delivered a strong performance for the six months to 30\nSeptember 2009.\n\nTurnover on continuing operations increased close to 11 per cent reaching £ 8.9\nmillion (2008: £8.0 million) and EBITDAS (earnings before interest, tax,\ndepreciation, amortisation and share based payments) rose some 31 per cent to\n£1.93 million (2008: £1.47 million)\n\nIn July I referred to the impact of IAS 21 on our results. This accounting\nstandard requires companies to revalue all foreign currency trade receivables at\nthe appropriate year-end exchange rate. I pointed out at the time that should\nthe value of sterling strengthen against the dollar in the current year then the\nprof...