Veterinary medicines maker Eco Animal Health reported a drop in first half sales and profit after being affected by the Chinese pandemic in African Swine Fever and ongoing trade war between the US and China. In the six months to 30 September 2019, sales dropped from £30m to £28.7m, while pre-tax profit was down from £5.3m to £1m. Andrew Jones, non-executive chairman of ECO Animal Health Group plc, commented: 'We have had a challenging start to the first half of the year, but we now see signs that point to improved performance in the second half due to encouraging signs of early recovery in China as key producers build sow numbers and pork export and prices in North America improve. 'Our investments in R&D to generate future products and growth continue to progress as planned. The Board has made significant progress in reviewing its accounting policies; we believe that we have identified all material prior period errors and we have corrected them in this interim report.'
Sign up to our
Subscribe to the latest investing news by entering your email address below
You can opt out at any time.
For five days a week you will get
- The latest company news
- Insight into investment trends
- Round-up of director's buys and sells
- Articles from Shares magazine
Plus more useful investment content and occasional promotional offers.
UK 350 Risers and Fallers
Tweets not available.