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19 Jun 2019 | 09:03

Eco Animal Health profits jump 10%, but US-China trade war, African Swine Fever stifle growth

ECO Animal Health reported a 10% jump in profits, but the outbreak of African Swine Fever and a trade war between the USA and China kept a lid on growth.

For the year ended 31 March, pre-tax profits rose 10% to £15.2m as sales increased 11% to £74.6m.

Strong sales growth in North America, Latin America, Thailand and India, however, was weighed down by challenging market conditions in China, triggered by the African Swine Fever outbreak and the ongoing US-China trade war.

The company raised its dividend by 20% to 11.04p.

'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,' said Marc Loomes, CEO of ECO Animal Health Group.

'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.'

At 9:03am: (LON:EAH) Eco Animal Health Group PLC share price was +20p at 372p

Story provided by StockMarketWire.com
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