Highlights
Approval of a major new equine product, Osphos®, with launch targeted for quarter one of 2015 financial year in the US and UK;
Good progress on the pipeline; dossier submitted for approval of a novel canine endocrine product in the US and EU;
All EU markets are showing growth, with the exception of the Netherlands;
Strong performance in the US driven by our key products growing well and the Ophthalmic range relaunch, partly offset by continuing supply issues;
Group revenue up by 1.6% (at constant exchange rate); positive momentum in the second half with revenue growth of 4.0%;
Completed the acquisition of the trade and assets of PSPC Inc., which will expand our US product portfolio;
Newly established Italian subsidiary opened in March 2014;
Significantly improved net debt position of £5.0 million (2013: £80.8 million) following divestment of the Services Segment;
Dividend of 15.40p, an increase of 10% over the previous year; and
Current trading in line with management expectations.
