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Eco Animal H1 revenues come in ahead of expectations
21st Oct 2020 08:02
(Sharecast News) - Livestock products group Eco Animal Health said on Wednesday that interim revenues were ahead of both market expectations and prior year comparatives.
Eco Animal said strength in the Chinese market, supported by the rebuilding of pig herds and the high price for pork, had continued through the first six months, resulting revenues being "significantly ahead" of management expectations.
The AIM-listed group also highlighted that it had so far seen only a "limited impact" from the Covid-19 pandemic.
Chief executive Marc Loomes said: "We are delighted with the continuing recovery from African Swine Fever in China and the improved revenue performance of the group and we look forward with cautious optimism to this trend continuing during the second half of this financial year.
"If this business performance is sustained, we look forward to reporting full-year revenue in excess of current market expectations."
As of 1300 BST, Eco Animal shares had surged 21.07% to 250.0p.
Eco Animal said strength in the Chinese market, supported by the rebuilding of pig herds and the high price for pork, had continued through the first six months, resulting revenues being "significantly ahead" of management expectations.
The AIM-listed group also highlighted that it had so far seen only a "limited impact" from the Covid-19 pandemic.
Chief executive Marc Loomes said: "We are delighted with the continuing recovery from African Swine Fever in China and the improved revenue performance of the group and we look forward with cautious optimism to this trend continuing during the second half of this financial year.
"If this business performance is sustained, we look forward to reporting full-year revenue in excess of current market expectations."
As of 1300 BST, Eco Animal shares had surged 21.07% to 250.0p.