LONDON (ShareCast) - (Sharecast News) - Eco Animal Health Group on Wednesday reported double-digit annual profit and revenue growth, but said the outbreak of African Swine Fever (ASF) in China and trade conflict between the Washington and Beijing kept a lid on growth.
The animal-focused pharmaceuticals company returned a profit before tax of £15.2m for the year ended 31 March, for an increase of 10% when compared to the year before, with revenue coming in 11% higher at £74.6m as the company generated sales in more than seventy countries.

Sales were flat in China as the nation lost an estimated 200m pigs, or 30% of its swine production, to ASF, leading the AIM traded company to shift its focus in the country to include poultry from being almost exclusively directed at the pig sector.

Worldwide sales of pig and poultry disease treatment Aivlosin increased by 14% and accounted for 78% of total revenue, while sales of the smaller Ecomectin anti-parasitic range dropped by 7% amid European manufacturing issues and altered distribution purchasing patterns.

Sales of all other products rose by 6% after being driven by increased sales in Mexico, while strong overall sales growth was evident in North America, Latin America, Thailand and India.

Marc Loomes, chief executive of Eco, said: "These are credible results for a year that was adversely depressed by both ASF and a trade war between the USA and China, our two largest markets. We are confident that our accelerated development programmes in vaccines and other products will add long term growth. For the year ahead we expect to report continued growth and to perform in line with the board's expectations."

Eco Animal Health Group's shares were up 5.97% at 373.00p at 0938 BST.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE