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Animalcare reports annual revenue, earnings ahead of market expectations
StockMarketWire.com
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Animal health business Animalcare reported that revenue and earnings were ahead of market expectations on improved cash conversion in the second half of the year.
For the 12 months ended 31 December 2020, revenue declined 0.7% to £70.5 million year-on-year, with sales up 3.0% to £36.0 million.
The better-than-expected performance reflected 'government counter measures and the adjustments made by the group and veterinary customers over the course of the pandemic,'the company said.
Net debt reduced by approximately 23% $17.8 million, largely as a result of the second half improvement in cash conversion, it added.
Full year results are due to be published on 30 March 2021.
At 8:34am: (LON:ANCR) Animalcare Group PLC share price was 0p at 164p
Story provided by StockMarketWire.com
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