10 July 2013 – trading update
The leading supplier of veterinary medicines has announced a pre-close update confirming that it has traded as expected in the year to 30 June with revenues 11% ahead of the previous year. Given the fact that trade statistics show that the underlying market is flat, these are clearly good figures. The group launched three new products during the year with a fourth receiving marketing authorisation in June and the latter is expected to be launched in the first half of the financial year. We maintain our recommendation of BUY.