AIM-listed veterinary biotech firm Eco Animal Health (LON:EAH) has seen its share price surge upwards by 30.34% to 322.60p (as of 13:50 GMT) after reporting quadrupled pre-tax profits for the six months ended 30th September. Sales for the period improved by 50% as the company’s Chinese and North American markets recovered well.
Non-executive Chairman Dr. Andrew Jones commented: “This set of results for the first half builds upon the strong trading seen in China during the latter part of last year with an acceleration in sow restocking and an appreciation of the benefits that Aivlosin® brings to animal health and productivity. We are pleased to be releasing these Interim results at the same time as the audited final results for March 2020 and together they mark a turning point in the reassessment of the Group’s prior accounting. We are experiencing strong forward trading as evidenced by the successive trading updates and we are also excited with the continued new product development successes. The Directors are confident and excited about the future prospects for the business“.