ECO Animal Health Group pleased with recent trading

ECO Animal Health Group plc (LON:EAH), a leader in the development, registration and marketing of pharmaceutical products for global animal health markets has provided an unaudited trading update for the financial year ending 31st March 2022.

ECO commented in early January 2022 that China pork prices were volatile, and producers remained cautious. Although these trading conditions have persisted throughout the first quarter of 2022, ECO has continued to trade in line with revised revenue and margin expectations.

Further encouraging progress has been made within the R&D portfolio and investment was maintained at the budgeted rate, resulting in R&D cash expenditure, including capitalisation, of about 13% of revenue in the full year and a charge to the income statement of £8.7million.  This charge to the income statement reflects some exciting early-stage technologies. This, together with further investment in critical support functions, is expected to result in EBITDA (for the year ending 31 March 2022) 15% to 20% below consensus expectations.

Exposure to Russia and Ukraine

The ECO Group has no business in Ukraine. The annual revenue derived from Russia has been less than £0.5m in each of the last three financial years. The current receivables due from the ECO distributor in Russia are approximately €430,000 and the Board continues to explore a number of mechanisms to recover this debt.

Marc Loomes, ECO Animal Health CEO said:

“The pork commodity price in China continues to be volatile but we are pleased with recent trading and our expectation of meeting revenue consensus is an important indicator of a return to more stable trading conditions. We have kept investment on critical organisation development and strategic R&D at our planned levels despite the reduced revenues from China. This decision is beginning to bear fruit and we look forward with excitement to the announcement of new regulatory approvals.”

“We hope for a speedy resolution to the conflict in Ukraine and stay ready to support our business partners in Eastern Europe in any way we can.” 

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
ECO Animal Health Group plc

More articles like this

ECO Animal Health Group plc

ECO Animal Health AGM to be held on 26 September 2022

ECO Animal Health Group plc (LON:EAH) has announced the publication of the following documents on the Company’s website: www.ecoanimalhealthgroupplc.com/investor-relations.aspx. ·     Annual Report and Accounts for the year ended 31 March 2022 ·    Notice of Annual General Meeting to be held

ECO Animal Health Group plc

ECO Animal Health delivers record China revenue in Q1

ECO Animal Health Group plc (LON:EAH), a leader in the development, registration and marketing of pharmaceutical products for global animal health markets, has provided an update to its expected results for the year ended 31 March 2022.  The audit

ECO Animal Health Group plc

ECO Animal Health signs new bank facility agreement with NatWest

ECO Animal Health Group plc (LON:EAH), a leader in the development, registration and marketing of pharmaceutical products for global animal health markets, has announced that it has signed a new bank facility agreement with its bank, National Westminster Bank

ECO Animal Health Group plc

ECO Animal Health partners with Moredun Research Institute

ECO Animal Health Group plc (LON:EAH), a leader in the development, registration and marketing of pharmaceutical products for global animal health markets, has announced that its wholly owned subsidiary, ECO Animal Health Ltd, has entered into a research partnership

ECO Animal Health Group plc

ECO Animal Health live investor presentation

ECO Animal Health Group plc (LON:EAH), a leader in the development, registration and marketing of pharmaceutical products for global animal health markets, has announced that Marc Loomes, CEO, Christopher Wilks, CFO, and Hafid Benchaoui, Global Head of R&D, will be

ECO Animal Health Group plc

ECO Animal Health appoint Tracey James as a Non-Executive Director

ECO Animal Health Group plc (LON:EAH), a leader in the development, registration and marketing of pharmaceutical products for global animal health market, is pleased to announce the appointment of Tracey James as a Non-Executive Director with immediate effect. Tracey

ECO Animal Health Group plc

Eco Animal Health Group AGM to be held on 16 September 2021

ECO Animal Health Group plc (LON:EAH) has announced the publication of the following documents on the Company’s website: www.ecoanimalhealthgroupplc.com/investor-relations.aspx. ·    Annual Report and Accounts for the year ended 31 March 2021 ·    Notice of the Annual General Meeting (“AGM”) to be

ECO Animal Health Group plc

ECO Animal Health Group sales up 46% at £105.6m

ECO Animal Health Group plc (LON:EAH) has announced its results for the year ended 31 March 2021. HIGHLIGHTS Financials · Sales up 46% at £105.6m (2020: £72.1m) · Gross margin increased to 51% (2020: 46%) · Profit before tax increased significantly

No more posts to show