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Eco Animal Health Group Plc (Eco news)


Eco Animal Health Group Plc
Proactive Investors UK reported

Shares in ECO Animal Health Group (LON:EAH) were higher by 6.6 per cent at 235 pence each by 1pm today, after the company said its current financial year had started well and reported a strong increase in profit and revenue for the 12 months to 31 March.

ECO, which makes environmentally-friendly drugs for livestock, 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 receive 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.

On average margins were slightly lower, restrained by currency movements such as last year’s strength of sterling against the US dollar as well as by the regional mix of Aivlosin sales and an aggressive local pricing policy to secure large tender business in Brazil.

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