VETERINARY medicines business Animalcare, has seen a return to growth in the last six months, after a difficult year.
Reduced sales of its identichip and animal welfare products, as well as disruption in the supply chain of one of its main medicines, caused revenue and profits to fall in its full year results ended June 30, 2012.
But in the six months to December 31, revenue has increased to £6.1 million, up from £5.4 million in the same period for 2011.
Profits also increased, with underlying pre-tax profit of £1.4 million, up from £1.2 million in 2011.
James Lambert, chairman of Animalcare, which is based in Dunnington, said the growth was driven by its continual launching of new generic medicines for cats and dogs.
He said: "Prospects for the second half of this financial year look good and in line with market expectations. We expect to launch four veterinary products during this financial year and to keep the pipeline stocked for the next several years, so continuing Animalcare's growth record."
He said the board was "delighted" with the first half results and remained positive about the opportunities ahead for the future development of the company.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here