Financial Highlights
|
6 months to 31st Dec 2015 |
6 months to 31st Dec 2014 |
% change |
|
|
Revenue |
£7.11m |
£6.93m |
+2.7% |
|
Underlying* operating profit |
£1.55m |
£1.79m |
(13.2%) |
|
Profit before tax |
£1.53m |
£1.76m |
(12.9%) |
|
Basic underlying* earnings per share |
6.2p |
6.8p |
(8.8%) |
|
Interim dividend |
1.8p |
1.8p |
- |
|
Product development expenditure |
£0.60m |
£0.20m |
+207.0% |
|
Cash and cash equivalents |
£6.10m |
£5.04m |
+21.1% |
* Underlying measures are before the effect of exceptional and other items. These are analysed in note 3.
Operational Highlights
Solid revenue growth from our Licensed Veterinary Medicines group, up 4.2% to £4.58m (2014: £4.40m) against strong comparatives which benefited from a circa £0.2m non-recurring benefit from sales of Buprecare as a result of competitor supply issues.
New mini microchip launched in a rapidly changing market.
Planned focus on our export business started in the period and already delivering commercial benefit.
Continued focus on investment to support future growth, reflected in the £0.16m increase in overheads and a three-fold increase in our product development pipeline expenditure to £0.60m.
Strong financial position maintained, with Group cash balances increasing by £0.32m to £6.10m since 30th June 2015.
James Lambert, Chairman of Animalcare Group plc, said: "The business has continued to perform well during the first six months of its financial year with sales up by 2.7% to over £7.1m which is particularly pleasing against a very strong first half in FY15. Given the top line growth during the period and increased levels of investment for the future success of Animalcare, your Board remains confident about the prospects and outcome for the full year and beyond."
