Animalcare, a veterninary products group, has produced an anaemic set of full-year results with both turnover and profits below last year's levels.
For the full year ended June 30th, revenue was down 8.2% at £10.9m with pre-tax profits down 27.5% at £2.1m. The results were in line with the profit warning given earlier this year.
A slight positive was growth in its veterinary medicines business.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Analyst Chris Glasper from House broker N+Singer writes: 'Key to the investment case remains organic growth in the Vet Meds category, with underlying growth continuing at 17%, well ahead of the market.
"The regulatory approval already of the first two of a planned four new products in the year bodes well for sustaining this momentum, and the re-launch of Buprecare in calendar year 13 should help further."
The company reports that current trading is "comfortably above" the same period last year so the hope is that its move up the value chain won't leave investors feeling as sick as a parrot.
CM
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
