The Animalcare Board is proposing an interim dividend of 2.0 pence per share, in line with 2018. The interim dividend will be paid on 22 November 2019 to shareholders whose names are on the Register of Members at close of business on 25 October 2019. The ordinary shares will become ex-dividend on 24 October 2019.
Other financial highlights include:
Revenue in line with the same period last year at £36.1m (increase of c. 0.9% at CER, 1H18: £36.1m)
o Strong sales growth across several key territories driven by successful new product launches
o Growth offset by temporary supply challenges related to third-party manufacturers
Underlying* EBITDA increased by 8.6% to £6.8m (1H18: £6.2m). On a comparable basis, excluding the impact of IFRS16, underlying EBITDA and EBITDA margin were flat at £6.2m (1H18: £6.2m) and 17.3% (1H18: 17.3%) respectively
Their focus on freeing up cash to reinvest in the pipeline has driven underlying cash conversion of 92.3%, on track to improve on the 80% achieved for the full year 2018
Net debt reduction to £20.9m (31 December 2018: £23.6m; 30 June 2018: £26.0m) largely driven by improved cash conversion, which is ahead of plan
Underlying* basic EPS at 6.4 pence (1H18: 6.1 pence). Statutory loss before tax, which incorporates non-underlying items, of £1.6m (1H18: £0.1m profit)
