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AIM-listed veterinary health group Animalcare (LON:ANCR) said that sales for the year ended 31st December rose by a disappointing 3.6% due to supply challenges and lower demand for its large animal products portfolio. EBITDA is now expected to be in the same range as in the prior year.
CEO Jenny Winter said: “We are focused on implementing the strategic priorities and operational objectives to enable the Group to take advantage of opportunities in the animal health market. With a new and highly focused leadership team in place, I am confident we can drive the necessary changes to deliver profitable growth, improved cash generation and long-term value creation for our shareholders“.
The price of Animalcare shares dropped by 10.23% to 139.15p (as of 14:25 GMT).