Business
Results for the six months ended 30 September 2021
Results for the six months ended 30 September 2021.
About this update from Eco Animal Health Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5234T\n Eco Animal Health Group PLC\n 25 November 2021\n \n \n \n ECO Animal Health Group plc (''ECO\")\n (AIM: EAH)\n \n Results for the six months ended 30 September 2021\n \n \n HIGHLIGHTS\n \n Financials\n \n · Sales at £38.5m (H1 2020: £42.5m)\n \n · EBITDA before exceptional impairment at £3.8m (H1 2020 restated*: £6.7m)\n \n · Profit before taxation of £0.9m (H1 2020 restated profit*: £4.8m)\n \n · Loss per share of 0.21p (H1 2020: restated Earnings per share*: 3.63p)\n \n · Cash generated by operations of £6.1m (H1 2020 restated*: £3.5m)\n * Prior period figures have been restated to reflect adjustments arising from the March 2021 audit\n Operations\n \n · Growth in Southeast Asia markets (representing 16% of sales) with revenues up 50%\n \n · Encouraging vaccine trial results increased focus in the R&D programme and resulted in the impairment of one non-core R&D project \n \n · Significant decline in revenues from China (representing 41% of total revenues; H1 2020: 49%) arising from sharp fall in pig prices\n \n · Excluding China and Japan revenues overall increased by 5%\n \n · Expectation for China pork industry recovery in H2\n \n Dr Andrew Jones, Non-executive Chairman of ECO Animal Health Group plc, commented:\n \"This set of results has clearly been impacted by the dramatic fall in the pig price in China which had a significant impact on the industry and losses of up to US$200 per head. This resulted in a significant decline in the demand for Aivlosin®. However, we are pleased to note that China revenues are at pre-ASF levels and that there is continuing revenue growth in aggregate elsewhere. In addition, we are excited to see the positive results of key technical trials in some of our vaccine developments providing us with confidence to continue our investment in these key projects. We look forward to providing more detail on some of our new product development initiatives in the coming months as well as anticipated approvals. The Directors regard the situation in China as cyclical and one which is expected to reverse and as a result, we are confident and excited about the medium and longer term prospects for the business\"\n \n \n \n \n \n \n \n \n \n The information contained within this announcem...