Animalcare reports progress during second half of 2010

Animalcare has expressed confidence in the positioning of its business after making progress on a number of key fronts in the second half of the 2010 calendar year.

The veterinary medicine company has published its pre-close trading update ahead of the publication of its results for the six months ending on December 31st 2010, during which it saw a ten percent year-on-year rise in revenue.

It stated that performance has been "good" across all of its categories, while its product development initiatives are also proceeding as planned, with two new launches set for the first quarter of 2011.

In addition, the firm has been able to streamline its operations via the disposals of its agriculture business and cleaning products formulations unit Travik Chemicals.

Animalcare's report said: "The board is confident that the short and medium-term pipeline of new products is strong and the business will make good progress in the remainder of the financial year."

Last month, Animalcare's commercial director and company secretary John Tobin retired from his post following a two-and-a-half year spell at the organisation.