Animalcare Group posts 'very strong' first half

15th Feb 2017 14:14

(ShareCast News) - Veterinary medicine supplier Animalcare Group announced its interim results for the six months to 31 December on Wednesday, with the board describing a "very strong" first half for the group, ahead of expectations.The AIM-traded company reported revenue of £7.97m, a 12% improvement, with underlying operating profit up 22.6% to £1.9m and underlying EBITDA ahead 26% at £2.12m.Basic underlying earnings per share were 25.8% firmer at 7.8p.On a reported basis, operating profit was still up 23.5% at £1.85m, and basic earnings per share were 23% higher at 7.5p.At period end, Animalcare had cash and cash equivalents of £7.01m - 15% higher than at the same time last year.The board declared an interim dividend of 2p per share, up from 1.8p a year ago."The business continued to perform strongly during the first six months of its financial year with sales up by 12% to £8.0m," said Animalcare chairman James Lambert."Given the strong start to the current financial year, and the expected launch of more new pharmaceutical products in the second half, your board remains confident about the group's prospects for the full year and beyond."