Animalcare vet medicine sales increase

Animalcare's veterinary medicine sales have increased, despite the company having a challenging year.

The supplier of licensed drugs for animals expects to prosper in 2013 after facing some stumbling blocks in the past few months.

According to the business, its sales of veterinary medicines rose 16.8 per cent excluding Buprecare ampoules, which it claims is ahead of the market.

Furthermore, the company launched five new generic drugs during the year, with more yet to come.

However, underlying profits before tax from continuing operations were down to £2.3 million in the year to the end of June, while revenues slipped 8.2 per cent at £10.9 million.

Chairman of the York-headquartered company James Lambert commented: "This has been a difficult year for Animalcare but I believe the measures the board has taken during it will see the business beginning to grow again during the current financial year."

He added that growth should be sustained as the business concentrates on resuming the supply of Buprecare ampoules, the launch of new licensed products and concentrating on growing its Companion Animal Identification business.