Animalcare shares rise after strong financial performance
Shares in pet drugs supplier Animalcare jumped nearly 10 per cent following strong annual results, boosted by encouraging sales of new products.
The York-based firm said pre-tax profits jumped 13 per cent to £3.0m in the year to June 30.
The group has made a name for itself by bringing out innovative drugs that boost the health and happiness of the nation’s dogs, cats and other family pets.
Animalcare has high hopes for its new Pet Remedy range of over the counter products, which contain valerian to calm down pets. Animalcare said it can be used across all species and has proved very effective in domestic and veterinary settings.
Chief executive Iain Menneer said: “It’s a very effective, calming product that works across species. If an animal is anxious or has existing behavioural problems, it calms them down. Valerian is a natural product that can be sprayed into the air. It’s proving very effective in vet waiting rooms.”
Other new products include Synthadon, a methadone-based pain relief and pre-medication for cats and dogs undergoing a general anaesthetic, and anaestamine - a ketamine-based sedation drug, also used in general anaesthetics for cats, dogs, cattle, goats, guinea pigs, hamsters, horses, mice, pigs, rabbits, rats and sheep.
The group has also launched Clavubactin, a general antibiotic for cats and dogs, and Fungiconazole, which treats fungal skin conditions.
Mr Menneer said that although the four drugs are in the first few months of their launch phase, sales are progressing well.
The latest industry figures show that dog numbers in the UK have declined by 4.7 per cent to 8.5m and cat numbers have fallen by 6.8 per cent to 7.4m. This trend appears to be the same across other pet species.
Mr Menneer said there are no clear reasons for this at a time when the economy is getting stronger after several years of recession, but national dog and cat charities believe the changes reflect their campaigns promoting responsible pet ownership.
He added that responsible pet owners will always require pet drugs so the decline has had little impact on Animalcare.
The Licensed Veterinary Medicines division generated strong sales which rose 8.8 per cent.