Animalcare profits boosted by new products

Animalcare has today (Wednesday 26th) announced a four per cent increase in its pre-tax profit for the first half of its financial year.

According to the company, this growth has been driven by an advance in revenues from its licensed veterinary medicines business and the launch of new products.

Treatments such as Phenoleptil, Thiafeline and Marbocare helped to boost earnings in this unit, with its income up by 11 per cent to $6.7 million (four million pounds). 

Overall, the company's revenue was up by six per cent to 6.5 million pounds, while its pre-tax profits climbed to 1.4 million pounds.

Following the announcement, Animalcare said it intends to continue developing new products, focusing in particular on enhanced generic medicines.

In an interview with the Wall Street Journal, chief executive Iain Menneer said the company is seeking to increase its critical care and intravenous fluid ranges, as well as moving into more niche areas of veterinary care.