Animalcare Group PLC Trading update & Notice of Results (4629C)
January 22 2018 - 02:00AM
UK Regulatory
TIDMANCR
RNS Number : 4629C
Animalcare Group PLC
22 January 2018
Animalcare Group plc
(the "Group" or the "Company")
Trading update & Notice of Results
Animalcare Group plc (AIM: ANCR) provides the following
unaudited trading update for the Group's first financial period
ended 31(st) December 2017 ahead of publishing its preliminary
results on 15(th) May 2018.
Following the acquisition of Ecuphar NV ("Ecuphar"), completed
on 13(th) July 2017, the enlarged Group's results for the first
financial period ended 31(st) December 2017 will comprise the
results of Ecuphar NV from 1(st) January 2017 and Animalcare Group
plc's results from the date of acquisition of 13(th) July 2017.
In order to provide a like-for-like comparison, the financial
information and narrative presented below refer to an unaudited pro
forma 12 month period to 31(st) December 2017 with comparatives to
31(st) December 2016.
Trading review
Total revenue for the 12 month period ended 31(st) December 2017
were up c.9.5% at AER (c.3.4% at CER) to c.GBP91.9m (2016:
GBP83.9m), slightly ahead of management expectations. Excluding
Nutriscience, which Ecuphar sold in October 2016, like-for-like
revenues increased by c.10.9% at AER (c.4.7% at CER). Earnings are
expected to be broadly in line with management expectations.
Progress with integration
The integration is progressing as anticipated, but it is still
at an early stage and as expected margins for the period to 31(st)
December 2017 have yet to reflect the synergies that we expect to
realise in the medium- to long-term. The Group is implementing a
wide-ranging change agenda in order to establish a strong platform
for the future that will deliver long-term shareholder value
through the many opportunities available.
Summary and Outlook
The Board is pleased with the good revenue growth of the
enlarged Group. The process to integrate the businesses to create a
leading pan-European Animal Health platform is underway. Whilst
this process will take some time, the Board remains confident of
the strategic rationale for the merger and the prospect of future
value creation for our shareholders.
Animalcare expects to announce its preliminary financial results
on 15(th) May 2018 allowing for the additional time to report on
the reverse-acquisition of Ecuphar.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
For further information, please contact:
Animalcare Group plc Tel: 01904 487 687
Chris Cardon, Chief Executive
Officer
Chris Brewster, Chief
Financial Officer
Iain Menneer, Chief Operating
Officer
Panmure Gordon (Nominated Tel: 020 7886 2500
Adviser & Broker)
Corporate Finance
Freddy Crossley / Peter
Steel
Corporate Broking
James Stearns
Walbrook PR Ltd Tel: 020 7933 8780 or animalcare@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Cawthorne Mob: 07584 391 303
About Animalcare (www.animalcaregroup.co.uk)
Animalcare Group plc is a UK AIM listed veterinary sales,
marketing and product development company resulting from the merger
of Animalcare and Ecuphar NV.
Post-merger Animalcare is a pan-European animal health company,
with a large geographic footprint. The Company now has direct sales
in seven countries (UK, Belgium, Netherlands, Spain, Portugal,
Italy and Germany) and exports to approximately 50 markets
worldwide.
The Company now has nearly 100 sales representatives and 28
agents operating across Europe and owns 50 licensed drugs, eight
vaccines and over 100 care and nutraceutical products.
Animalcare invests in developing its own pharmaceutical
products, seeks distribution partnerships and product
acquisitions.
For more information see Animalcare Ltd (www.animalcare.co.uk)
and Ecuphar NV (www.ecuphar.com).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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