Half year report
Highlights
· Strong revenue growth from our Licensed Veterinary Medicines group, up 17.2% to £5.37m (2015: £4.58m) driven by strong domestic and export like-for-like growth of 13.0%, and 4.2% contribution from sales of four new products launched in the period.
· Revenues from the Animal Welfare Products range increased 13.3% to £1.51m (2015: £1.34m).
· Continued focus on our export business started delivering significant commercial benefit with revenues up 37.7% versus prior period.
· Momentum in our product development pipeline continues with expenditure in the period of £0.6m and anticipated full year investment increasing to £2.0m (FY16: £1.6m).