www.ecoanimalhealthgroupplc.com
ECO Animal Health Group plc is a leader in the development, registration and marketing of pharmaceutical products for global animal health markets. Our products for these growth markets promote well-being in animals. Our financial goals are achieved through the careful and responsible application of science to generate value for our shareholders.
ECO Animal Health Group reports upbeat results, says demand strong in China
ECO Animal Health Group (LON:EAH), the maker of environmentally-friendly drugs for livestock, said its current financial year had started well after reporting a strong increase in profit and revenue for the 12 months to 31 March.
ECO said it had seen positive trends in many of its key markets. Demand from China, its largest market, is strong and it continues to build a presence there and in other important territories. The firm added that it was optimistic that it would soon received clearance from the US Food and Drug Administration to begin sales of Aivlosin – its flagship drug that is used to provide control of major respiratory and enteric diseases in both pigs and poultry – in that country.
Today’s results showed that the group increased its turnover for the year to 31 March by 24.4 per cent to £27.1 million (2010: £21.7 million), while its profit – before non-cash charges such as tax, depreciation and amortisation – improved by more than 16 per cent to £6.4 million.
Cash generation at the business continued to be strong, with £8.5 million generated comparedwith £3.3 million in 2010. The firm said that this was achieved thanks to the ongoing implementation of its aggressive stock and debtor management policies
ECO has declared a dividend of three pence per share for the year – an increase of 30 per cent over the 2.3 pence it declared for 2010.
“ECO Animal Health Group has delivered another strong set of results for the year ended 31 March 2011 and the current year has started well,” said Peter Lawrence, ECO’s executive chairman. “Overall, ECO is well positioned with an excellent product range, exciting growth opportunities and potentially very important new products in the development phase. The company is poised to accelerate its growth and continue to deliver value to its shareholders.”
