Animalcare Group increases its 2015 full year dividend by 10.7%

DividendMax Ltd.

Animalcare Group increases its 2015 full year dividend by 10.7%

Revenue up 5.1% to £13.5m (2014: £12.9m)  

Underlying operating profit up 11.0% to £3.1m (2014: £2.8m)  

Underlying basic earnings per share up 16.7% to 12.6p (2014: 10.8p)  

Reported pre-tax profits up 12.6% to £3.01m (2014: £2.67m)  

Strong, debt free balance sheet with net cash of £5.8m (2014: £3.8m)

Cash generated from operations £4.5m (2014: £1.6m)  

Total recommended dividend up 10.9% to 6.1p (2014: 5.5p)   

Operational Highlights  Strong increase in sales of Licensed Veterinary Medicines, up 8.8% to £8.6m (2014: £7.88m)  Volume of microchips sold increased in the period, with revenues impacted by the phasing of equine export chip sales  Revenues from the Animal Welfare Products range increased 2.6% to £2.65m (2014: £2.58m)  Investment in product development pipeline has increased substantially in the period. 3 development projects progressed to regulatory submission, of which 1 licence has been granted  A new post of European Development Manager has been successfully filled to focus entirely on expanding potential from territories outside the UK

Iain Menneer, Chief Executive Officer of Animalcare, said: "I am delighted that we've followed last year's growth with another set of solid results, particularly with a strong performance from our Licensed Veterinary Medicines business. Again a key feature of our financial results has been the impressive cash generation of the business which has allowed us to continue our investment in new product development whilst maintaining a progressive dividend policy. We are well positioned to deliver further growth as planned from 2017 onwards."

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