Animalcare’s Full-year Profits To Exceed Market Projections – – Daily Cryptocurrency and FX News

Animalcare Group

It is no surprise that companies involved in the animal sector are doing well due to pet buying during the lockdown. The international veterinary sales and marketing business, Animalcare Group (AIM:ANCR) PLC said that its first-half revenues had risen 13.3% to £39.1mln.

A focus on brands with higher margins and growth potential helped the underlying half-year earnings climb 28.3% to reach £8.5 million. It now expects its full-year results to beat forecasts. Chairman Jan Boone said:

“While we still anticipate growth in revenue and underlying EBITDA will be weighted towards the first half of 2021, the level of market demand we have seen during the third quarter gives us the confidence that underlying EBITDA and underlying basic EPS will exceed current market expectations for the full year.”

“Against this backdrop, and alongside a continuing increase in investment in the pipeline, the board has declared an interim dividend of 2p per share, in line with 2021.”

Daxocox, its canine pain treatment, was approved by the European Union and the United Kingdom authorities, paving the way for the launch of the product, while its STEM range of dental products is expected in the final quarter of this year.

The company’s shares have climbed 25.9p or 6.43% to trade at 428.9p. Also on the way up is Transense Technologies (AIM:TRT) PLC. Its full-year revenues were up from £0.6 million to £1.77 million and it moved from a £2.45 million loss to a £0.16 million profit, according to the sensor systems specialist.

After it was licensed to Bridgestone Corporation, the world’s largest tyre producer, its tyre monitory system iTrack has seen royalty income grow under a 10-year deal in June 2021. Transense executive chairman Nigel Rogers said:

“With royalty income from iTrack gathering momentum, and new products in [tyre monitory system]Translogik driving increased market penetration in tyre probes, the company has delivered strong revenue growth. Trading since the period end is well ahead of the prior year, and the directors continue to be optimistic about the outlook and prospects for the company.”

Its shares are up 6.5p or 5.8% at 118.5p.

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