Animalcare says it is confident about the coming year after it reported a 5.1% increase in revenues.
Revenue from sales of its licensed veterinary medicines was up 8.8% to £8.58m (2014, £7.88m), which included “encouraging” sales of new products.
Sales from animal welfare products rose by 2.6% to £2.65m (2014: £2.58m).
However, companion animal identification revenues fell by 4.5% to £2.31m (2014: £2.42m), largely due to the phasing of export equine chip sales where a substantial annual order was placed late the previous year. The company says while UK sales volumes were slightly up, net revenues were hit as a result of a national charity’s free microchipping campaign.
Sales from the database services continued to rise in the year.
During the year Animalcare unveiled five new products in the UK and Ireland:
- Pet Remedy was launched in the first half, with sales above management expectations.
- Synthadon and Anaestamine were launched midway through the second half and the firm says both ranges are selling strongly.
- Clavubactin and Fungiconazole were launched towards the end of the half – the former is an antibacterial and the latter an antifungal medicine.
In a statement the board said investment in product development over the past two years was bearing fruit, with three projects being submitted for regulatory approval.
Animalcare said there was little evidence dog owners were responding to the forthcoming compulsory chipping of dogs in England, Wales and Scotland, which takes effect in April 2016. But the board said it had plans to grow microchip sales in the run-up to the legislation and in the longer term.
Animalcare employs 57 people including a field sales force of 14 representatives selling to all veterinary practices in the UK and Ireland.