Business
Results for the Six Months Ended 30 September 2024
Results for the Six Months Ended 30 September 2024.
About this update from Eco Animal Health Group Plc
[{"type":"text","content":"\n\n \n28 November 2024\nECO Animal Health Group plc\nResults for the six months ended 30 September 2024\nECO Animal Health Group plc (\"ECO\", the \"Company\", or the \"Group\") (AIM: EAH), a rapidly growing global animal health company with a portfolio of marketed veterinary products and a maturing proprietary R&D pipeline, today announces its Half Year Report for the six months ended 30 September 2024 in line with the guidance provided in the 1 October 2024 Trading Update.\nHIGHLIGHTS\nFinancial\n \n· Group Revenue decreased 13% to £33.2 million (H1 2023: £38.0 million)\no Revenues on a constant currency basis decreased 9%\n· Gross margins 40.3% (H1 2023: 40.8%)\n· Adjusted EBITDA at £0.4 million (H1 2023: £0.7 million)\n· Loss per share of 2.50p (H1 2023: loss per share: 1.93p)\n· Cash generated by operations before working capital increased to £0.8 million (H1 2023: £0.7 million)\n· Cash balances decreased to £18.3 million (30 September 2023 £20.6 million)\n \nOperational\n \n· Revenue in USA and Canada increased by 5% to £8.6 million (H1 2023: £8.2 million)\n· Revenue in Latin America increased by 8% to £8.3 million (H1 2023: £7.7 million)\n· Improving pork prices and better producer profitability improved revenues during August and September 2024\n· Rigorous control of input costs has supported gross margins at about the same level as prior year\n· New marketing approval for Aivlosin® in Paraguay\n· Late-stage Mycoplasma vaccine projects for poultry continued to progress towards regulatory submission according to plan, with launches planned for 2025\n· Disposal of non-core equine anti-parasitic product for £1.0 million\n \n \nDavid Hallas, Chief Executive Officer of ECO Animal Health Group plc, commented: \"We are encouraged to see an improving revenue performance as we head into the second half of our financial year. As outlined in our trading statement in October, a combination of low disease ...