Healthy results and increased dividends for Eco Animal Health Group Plc

Eco Animal Health Group Plc has reported a 15% increase in adjusted earnings to £19.6m and a 9.4% increase in revenues to £67.2m for the year. This was helped by a sales increase of almost 14% on last year in its flagship product Aivlosin, a treatment for diseases in pigs and poultry. On the back of these record results the company has increased its total dividend for the year to 9.2p, which is an increase of 30%.

Aivlosin was also a success for Eco Animal Health’s Chinese subsidiary, Zhejiang ECO Biok Animal Health Products, which saw an increase in sales of approximately 10% and an increase in net profit in excess of 61% on last year. Across the global markets the news was equally positive with an increase of 23% in sales in South East Asia, and growth of 20% and 35% in Canada and the US respectively. The one caveat presented itself in Brazil where slow regulatory responses and a weak economic environment were presented as reasons for a 23% drop in this market.

New market approvals also bolstered results and Peter Lawrence, chairman of Eco Animal Health Group Plc said the company is “actively seeking to acquire drugs that fit comfortably in our portfolio and serve our specialised markets.”