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EAH Eco Animal Health Group Plc

94.00
0.00 (0.00%)
23 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Eco Animal Health Group Plc LSE:EAH London Ordinary Share GB0032036807 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 94.00 93.00 95.00 94.00 94.00 94.00 32,008 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Chem,fertlizer Minrl Mng,nec 85.31M 1.01M 0.0149 63.09 63.68M

ECO Animal Health Half-year Report

06/12/2017 7:00am

UK Regulatory


Eco Animal Health (LSE:EAH)
Historical Stock Chart


From Apr 2019 to Apr 2024

Click Here for more Eco Animal Health Charts.
 
TIDMEAH 
 
 

6 December 2017

 

ECO Animal Health Group plc ("ECO") (AIM: EAH)

 

Results for the six months ended 30 September 2017

 

ECO ANIMAL HEALTH REPORTS ANOTHER STRONG PERFORMANCE

 

HIGHLIGHTS

 

Financials

 
 
    -- 35% increase in adjusted EBITDA to GBP8.5m (2016: GBP6.3m). 
 
    -- 10% increase in pre-tax profit to GBP5.9m (2016: GBP5.3m) 
 
    -- 8% increase in sales to GBP29.2m (2016: GBP26.9) 
 
    -- 11% increase in gross profit to GBP14.2m (2016: GBP12.8m) on improved 

margin

 
    -- 13% increase in earnings per share to 6.39p (2016: 5.68p) 
 
    -- 28% increase interim dividend to 3.2p (2016: 2.5p) 
 
    -- 36% increase in cash generation from operations to GBP7.2m (2016: GBP5.4m) 

leaving net cash of over GBP20 million at the period end.

 

Operations

 
 
    -- Demand for Aivlosin® continues to grow strongly 
 
    -- Strong performances in all major geographic areas, bar Latin America 

excluding Mexico

 
    -- New marketing authorisations gained in America and Malaysia - further 

authorisations are expected in Canada and South East Asia.

 
    -- Continued investment in new routes to market, product development and 

people to support future growth.

 

Peter Lawrence, Executive Chairman of ECO Animal Health Group plc, commented:

 

"The second half of the year has started well with a strong and growing order book. ECO has a sound balance sheet with good and reliable cash generation. The Company continues to invest in research and product development programmes to obtain further marketing authorisations and efficiencies in production. I look forward with confidence to reporting another set of impressive results in 2018".

 
Contacts: 
ECO Animal Health Group plc 
Peter Lawrence                                 020 8336 6190 
Marc Loomes                                    020 8447 6906 
Spiro Financial 
Anthony Spiro                                  020 8336 6196 
Peel Hunt LLP (Nominated Adviser) 
Dan Webster, Adrian Trimmings, George Sellar   020 7418 8900 
N+1 Singer (Joint broker) 
Mark Taylor                                    020 7496 3069 
 
 

ECO Animal Health Group plc is a leader in the development, registration and marketing of pharmaceutical products for animals. Our products for these global growth markets promote well-being. Our financial goals are achieved through the careful and responsible application of science to generate value for our shareholders.

 

Chairman's statement

 

I am pleased to report that ECO Animal Health Group has delivered another set of record results for the six months to 30 September 2017. ECO provides essential medications to the ever growing global animal protein production industry. The success of the Company reflects its investment over many years in obtaining marketing authorisations, which are a legal requirement in all of the countries it serves. Currently it holds several hundred marketing authorisations and its products are prescribed and sold in more than sixty countries.

 

The Company's consistent strategic focus is to concentrate on offering its medications into the key global food production markets. The standards imposed by the regulatory bodies that licence the use of pharmaceuticals for veterinary use are becoming ever more stringent. Consequently, the regulatory authorities require more in depth evaluation of drugs than ever before. ECO already satisfies these enhanced requirements, which means that it has a competitive advantage and is well placed to capitalise on further commercial opportunities.

 

Financial performance

 

Profit before tax in the period under review increased by over 10 per cent to almost GBP5.9m (2016: GBP5.3m) while sales advanced by over 8 per cent to GBP29.2m (2016: GBP26.9m). Earnings before interest, tax, depreciation, amortisation, share based payments, non-controlling (minority) interest and foreign exchange movements were almost GBP8.5m (2017: GBP6.3m) an increase of over 35 per cent. Gross profit advanced by 11 per cent to GBP14.2m (2016: GBP12.8m) and earnings per share rose 12.5 per cent to 6.39 pence per share (2016: 5.68 pence). Cash generated from operations remained robust advancing to GBP7.2m (2016: GBP5.4m).

 

Margins continued to improve compared to the same period last year, reflecting the success of our strategy to concentrate our sales effort on high value products, which offer the best long term returns for the Company.

 

Over recent months sterling has strengthened a little against major currencies. ECO continues to invoice more than 97 per cent of its sales in foreign currencies but the effect of the slightly stronger pound since our March 2017 year end has meant that the currency gains the Company benefitted from last year have not been repeated. Nevertheless, control of overheads meant that profit from operating activities was up over 30 per cent at GBP5.9m.

 

The board is pleased to declare an interim dividend of 3.2 pence per share (2016: 2.5 pence) to be paid on 12 April 2018 to shareholders on the register on 23 March 2018. This increase of 28 per cent reflects the board's continued confidence in the sustainable growth of our international business and the consequent implementation of a progressive dividend policy.

 

Operations:

 

Sales of Aivlosin®, our patented molecule for the treatment of economically important diseases in pigs and poultry, increased by almost 18 per cent in sterling during the period under review. Aivlosin® is prescribed under strict veterinary control at low, yet efficacious, dose rates for short duration treatments of specified diseases. It meets all current guidelines for the responsible use of antimicrobials, which when used appropriately, help to promote animal welfare and food safety.

 

Sales in the USA rose 33 per cent in sterling, compared with the same period last year, reflecting strong growth of the Aivlosin® water soluble granule formulation for use in swine suffering from enteric (gut) diseases. In late July, the Center for Veterinary Medicine (CVM) of the US Food and Drug Administration (FDA) approved this formulation for a new label indication. The approval applied to the control of swine respiratory disease (SRD) associated with Bordetella bronchiseptica, Haemophilus parasuis, Pasteurella multocida, and Streptococcus suis, which are important bacterial respiratory pathogens. Early sales of the Aivlosin® medicated feed additive formulation, which was approved at the end of March 2016, also contributed to revenue in the period. In Canada, sales were also significantly ahead. The SRD application is still under review by the Veterinary Drugs Directorate of Health Canada, which when approved, will add to sales in North America.

 

Revenue growth in South East Asia was buoyant. The regulatory files supporting the marketing authorisation granted by the European Medicines Agency in June 2016 for the use of Aivlosin® water soluble granules in chickens laying eggs for human consumption, with a zero day drug withdrawal period for eggs, were submitted to a number of countries in the region. Approvals were obtained in Thailand, prior to this period, and in Malaysia during the period; further approvals are expected. The granting of a zero withdrawal period is a significant advantage to egg producers, who as a result are not required to destroy eggs laid while birds are being treated. These new licenses underpin our development of closer relationships with major poultry producers, particularly those in the key egg producing markets of South East Asia.

 

Both Europe and Japan posted strong sales growth across the portfolio, reflecting our development of closer ties with key customers in these more mature markets.

 

Last year in China our subsidiary, Zhejiang ECO Biok Animal Health Products, delivered exceptional sales growth. The current year's sales reflect the organisation's consolidation of its strong position during a period of softer pork prices and in advance of strategic initiatives to target poultry producers. Sales of Aivlosin® continued to grow and the net profit in China increased by more than 20 per cent over the same period last year, once again reflecting the effectiveness of our overall strategy.

 

The excellent performance of Aivlosin® across the majority of geographies was tempered by continuing weakness in some Latin American markets including Brazil, mainly due to slow regulatory responses and a generally weak economic environment. Sales in Mexico, on the other hand, were very strong. This performance was boosted by our first Aivlosin® approval for the medication of drinking water for the treatment of infections caused by Mycoplasma in poultry laying eggs for human consumption with a zero day drug withdrawal period for eggs in Latin America, received in January 2017.

 

People

 

David Danson, who completed nine years as a non executive director, will retire on 1 December from the board in accordance with corporate governance guidelines. I would like to thank David for his wise counsel, which has been invaluable and reflects his extensive business experience and Council membership of the Royal College of Veterinary Surgeons. Andrew Jones joined us as a non executive director on 1 December. Andrew brings a wealth of board experience gained across large listed, private equity backed and small to medium sized enterprises. Andrew's particular focus is on the life sciences sector and importantly, the animal health industry.

 

While I have been executive chairman of the Company since its formation, the time is right for my role to become non executive. This change will take effect from 1 January 2018 and conforms to best practice corporate governance.

 

Outlook:

 

The second half of the year has started well with a strong and growing order book. ECO has a sound balance sheet with good and reliable cash generation. The Company continues to invest in research and product development programmes to obtain further marketing authorisations and efficiencies in production. I look forward with confidence to reporting another set of impressive results in 2018.

 

Peter A Lawrence

 

05 December 2017

 

CONSOLIDATED INCOME STATEMENT FOR THE SIX MONTHS TO 30 SEPTEMBER 2017

 
                                      Six months   Six months   Year 
                                      to           to           ended 
                                      30.09.17     30.09.16     31.03.17 
                               Notes  (unaudited)  (unaudited)  (audited) 
                                      GBP000         GBP000         GBP000 
Revenue                        3      29,204       26,939       61,422 
Cost of sales                         (14,970)     (14,153)     (31,103) 
Gross Profit                          14,234       12,786       30,319 
Other operating income                138          98           379 
Administrative expenses               (6,050)      (6,774)      (14,232) 
Currency (losses)/profits             (300)        277          (55) 
Amortisation of intangible            (1,700)      (1,593)      (3,088) 
assets 
Share based payments                  (380)        (240)        (678) 
Profit from operating                 5,942        4,554        12,645 
activities: 
Net finance (costs)/income            (102)        724          784 
Share of profit of associate          24           31           23 
Profit before income tax              5,864        5,309        13,452 
Income tax charge                     (641)        (806)        (1,453) 
Profit for the period from            5,223        4,503        11,999 
continuing operations 
Attributable to: 
Owners                                4,188        3,632        10,565 
Minority interest                     1,035        871          1,434 
                                      5,223        4,503        11,999 
BASIC EARNINGS PER SHARE       5      6.39p        5.68p        16.35p 
FULLY DILUTED EARNINGS         5      6.37p        5.65p        16.17p 
PER SHARE 
Earnings from continuing 
activities before 
interest, taxation, 
depreciation, 
amortisation 
and share based payments              8,185        6,552        17,009 
Exclude foreign exchange              300          (277)        55 
differences 
EBITDA                                8,485        6,275        17,064 
 
 
CONSOLIDATED STATEMENT OF 
COMPREHENSIVE INCOME 
FOR THE SIX MONTHS TO 
30 SEPTEMBER 2017 
                               Six months   Six months   Year 
                               to           to           ended 
                               30.09.17     30.09.16     31.03.17 
                               (unaudited)  (unaudited)  (audited) 
                               GBP000         GBP000         GBP000 
Profit for the period          5,223        4,503        11,999 
Foreign currency translation   (482)        998          1,030 
differences 
Defined benefit pension plan   -            -            (483) 
- actuarial losses 
Deferred tax on revaluations   -            -            10 
Other comprehensive income     (482)        998          557 
for the period 
Total comprehensive income     4,741        5,501        12,556 
for the period 
Attributable to: 
Owners                         3,858        4,341        10,829 
Minority interest              883          1,160        1,727 
                               4,741        5,501        12,556 
 
 
CONSOLIDATED 
STATEMENT 
OF CHANGES 
IN EQUITY 
FOR THE SIX 
MONTHS TO 
30 SEPTEMBER 2017 
                         Share    Share    Other     Revaluation  Treasury  Retained  Total    Minority  Total 
                         Capital  Premium  Reserves  Reserves     Reserve   Earnings           Interest  Equity 
                         Account  Account 
                         GBP000     GBP000     GBP000      GBP000         GBP000      GBP000      GBP000     GBP000      GBP000 
At 1 April 2016          3,205    55,590   2,028     654          (1,144)   21,824    82,157   3,202     85,359 
Profit for               -        -        -         -            -         10,565    10,565   1,434     11,999 
the year 
Other 
comprehensiveincome: 
Foreign                  -        -        -         -            -         737       737      293       1,030 
currencydifferences 
Actuarial                -        -        -         -            -         (483)     (483)    -         (483) 
(losses) 
onpension 
scheme assets 
Deferred taxation        -        -        -         10           -         -         10       -         10 
change inrate 
Total                    -        -        -         10           -         10,819    10,829   1,727     12,556 
comprehensive 
income 
for the year 
Transactions with 
ownersrecorded 
directly in 
equity 
Contributions by 
anddistributions 
to owners 
Movement                 -        -        -         -            1,144     -         1,144    -         1,144 
in 
TreasuryReserve 
arising 
fromdisposal 
of  jointly 
ownedshares 
Issue of shares          66       2,517    -         -            -         -         2,583    -         2,583 
in the year 
Sale of treasury         -        47       -         -            -         60        107      -         107 
shares 
Share-based              -        -        678       -            -         -         678      -         678 
payments 
Transfers on             -        -        (257)     -            -         257       -        -         - 
expiry 
of options 
Dividends                -        -        -         -            -         (3,667)   (3,667)  (587)     (4,254) 
relating 
to 2016 
Transactions             66       2,564    421       -            1,144     (3,350)   845      (587)     258 
with owners 
Balance as at 31         3,271    58,154   2,449     664          -         29,293    93,831   4,342     98,173 
March 2017 
Total 
comprehensive 
incomefor 
the period: 
Profit for               -        -        -         -            -         4,188     4,188    1,035     5,223 
the period 
Other 
comprehensiveincome 
Foreign                  -        -        -         -            -         (330)     (330)    (152)     (482) 
currency 
translationdifferences 
Total                    -        -        -         -            -         3,858     3,858    883       4,741 
comprehensive 
income 
for the period 
Transactions 
with owners 
Issue of shares          17       568      -         -            -         -         585      -         585 
in the year 
Share based              -        -        380       -            -         -         380      -         380 
payments 
Transfer to              -        -        (294)     -            -         294       -        -         - 
retained 
earnings 
on option expiry 
Dividends                -        -        -         -            -         (1,635)   (1,635)  (1,389)   (3,024) 
Total                    17       568      86        -            -         (1,341)   (670)    (1,389)   (2,059) 
transactions 
withowners 
At 30 September          3,288    58,722   2,535     664          -         31,810    97,019   3,836     100,855 
2017 
Prior interim 
period 
At 1 April 2016          3,205    55,590   2,028     654          (1,144)   21,824    82,157   3,202     85,359 
Total 
comprehensiveincome 
for the period: 
Profit for               -        -        -         -            -         3,632     3,632    871       4,503 
the period 
Other 
comprehensive 
income 
Foreign                  -        -        -         -            -         709       709      289       998 
currency 
translationdifferences 
Total                    -        -        -         -            -         4,341     4,341    1,160     5,501 
comprehensive 
income 
for the period 
Transactions 
with owners 
Issue of shares          30       1,165    -         -            -         -         1,195    -         1,195 
in the year 
Movement                 -        -        -         -            1,134     -         1,134    -         1,134 
in 
TreasuryReserve 
arising 
fromdisposal 
of  jointly 
ownedshares 
Disposal of              -        47       -         -            -         59        106      -         106 
treasury 
shares 
Share based              -        -        240       -            -         -         240      -         240 
payments 
Transfer                 -        -        (244)     -            -         244       -        -         - 
to 
retainedearnings 
on option expiry 
Dividends                -        -        -         -            -         (1,209)   (1,209)  (586)     (1,795) 
Total                    30       1,212    (4)       -            1,134     (906)     1,466    (586)     880 
transactions 
withowners 
At 30 September          3,235    56,802   2,024     654          (10)      25,259    87,964   3,776     91,740 
2016 
 
 
CONSOLIDATED STATEMENT 
OF FINANCIAL POSITION 
                                     As at        As at        As at 
                                     30.09.17     30.09.16     31.03.17 
                                     (unaudited)  (unaudited)  (audited) 
                              Notes  GBP000         GBP000         GBP000 
ASSETS 
Non current assets 
Goodwill and other            7      55,956       51,975       53,883 
intangibles 
Property,plant                8      1,888        1,851        1,865 
and equipment 
Investment property           9      185          185          185 
Investments                          113          98           97 
                                     58,142       54,109       56,030 
Current assets 
Inventories                          18,830       16,636       19,675 
Trade and other receivables          14,583       15,393       16,158 
Income tax recoverable               470          163          395 
Other taxes and social               961          565          897 
security 
Cash and cash equivalents            20,304       18,525       20,602 
                                     55,148       51,282       57,727 
Total assets                         113,290      105,391      113,757 
Current liabilities 
Trade and other payables             (10,260)     (11,617)     (13,733) 
Income tax                           (244)        (377)        (238) 
Other taxes and social               (702)        (770)        (447) 
security 
Dividends                            (40)         (37)         (39) 
                                     (11,246)     (12,801)     (14,457) 
Total assets less current            102,044      92,590       99,300 
liabilities 
Non current liabilities 
Deferred tax                         (1,189)      (750)        (1,027) 
Dilapidations on                     -            (100)        (100) 
property leases 
                                     100,855      91,740       98,173 
Equity 
Capital and reserves 
Called up share capital              3,288        3,235        3,271 
Share premium                        58,722       56,802       58,154 
Treasury Reserve                     -            (10)         - 
Revaluation reserve                  664          654          664 
Other reserves                       2,535        2,024        2,449 
Retained earnings                    31,810       25,259       29,293 
                                     97,019       87,964       93,831 
Minority interest                    3,836        3,776        4,342 
Total equity                         100,855      91,740       98,173 
 
 
CONSOLIDATED STATEMENT 
OF CASH FLOWS 
                               Six months to  Six months to  Year ended 
                               30.09.17       30.09.16       31.03.17 
                               (unaudited)    (unaudited)    (audited) 
                               GBP000           GBP000           GBP000 
Cashflows from operating 
activities 
Profit before tax              5864           5309           13452 
Adjustment for: 
Net finance costs              102            (724)          (784) 
Depreciation of property       139            134            264 
plant and equipment 
Losses/(gains) on disposal     -              1              37 
of non-current assets 
Amortisation of intangible     1,700          1,593          3,088 
assets 
Impairment of intangible       -              -              297 
assets 
Pension payments               -              -              (76) 
Share of associate's results   (24)           (31)           (23) 
Share based payments           380            240            678 
Operating cash flow            8,161          6,522          16,933 
before movement 
in working  capital 
Change in inventories          845            (1,043)        (4,082) 
Change in receivables          1,511          (1,812)        (3,195) 
Change in payables             (3,318)        1,774          3,445 
Cash generated from            7,199          5,441          13,101 
operations 
Income tax (paid)              (548)          (555)          (1,286) 
Net cash inflow from           6,651          4,886          11,815 
operating activities 
Cash flows from investing 
activities 
Purchase of property           (194)          (86)           (265) 
plant and equipment 
Costs of acquiring             (3,773)        (4,231)        (7,931) 
drug registrations 
Finance income                 61             84             103 
Net cash (used in) investing   (3,906)        (4,233)        (8,093) 
activities 
Cash flows from financing 
activities 
Proceeds from issue of         585            2,435          3,834 
share capital and sale 
ofjointly  owned and 
treasury shares 
Dividends paid                 (3,024)        (1,795)        (4,252) 
Net cash from financing        (2,439)        640            (418) 
activities 
Net increase in cash           306            1,293          3,304 
and cash equivalents 
Foreign exchange movements     (604)          1,567          1,633 
Cash and cash equivalents at   20,602         15,665         15,665 
the beginning of theperiod 
Cash and cash equivalents      20,304         18,525         20,602 
at the end of theperiod 
 
 

NOTES TO THE PRELIMINARY RESULTS FOR THE SIX MONTHS TO 30 SEPTEMBER 2017

 

1. Basis of preparation The financial information for the period to 30 September 2017 does not constitute statutory accounts as defined by Section 435 of the Companies Act 2006. It has been prepared in accordance with the accounting policies set out in, and is consistent with, the audited financial statements for the twelve months to 31 March 2017.

 

The Group applies revised IAS 1 "Presentation of Financial Statements (2007)". As a result, the Group presents all non-owner changes in equity in consolidated statements of comprehensive income and all owner changes in equity in consolidated statements of changes in equity.

 

2. Statement of compliance The interim financial statements do not include all of the information required for full annual financial statements and do not comply with all of the disclosure requirements in IAS 34 "Interim Financial Reporting". Accordingly, whilst the interim statements have been prepared in accordance with IFRS, they cannot be construed as being in full compliance with IFRS and should be read in conjunction with the consolidated financial statements of the Group for the year ended 31 March 2017.

 

3. Revenue is derived from the Group's animal pharmaceutical businesses.

 

4. Principal risks and uncertainties These were set out on pages 63-66 of the notes to the consolidated financial statements for the year ended 31 March 2017. The key exposures are to foreign currency exchange rates, potential delays in obtaining marketing authorisations and single sources of supply for some raw materials and have remained unchanged since the year end.

 

5.Earnings per share

 
                             Six months to  Six months to  Year ended 
                             30.09.17       30.09.16       31.03.17 
                             (unaudited)    (unaudited)    (audited) 
Weighted average number of   65,517         63,992         64,638 
shares in issue (000's) 
Fully diluted weighted       65,787         64,301         65,356 
average number 
of shares in issue(000's) 
Profit attributable          4,188          3,632          10,565 
to equity 
holders of the 
company (GBP's) 
Basic earnings per           6.39           5.68           16.35 
share (pence) 
Fully diluted earnings       6.37           5.65           16.17 
per share (pence) 
 
 

6.Dividends

 
                                  Six months to  Six months to  Year ended 
                                  30.09.17       30.09.16       31.03.17 
                                  (unaudited)    (unaudited)    (audited) 
                                  GBP000           GBP000           GBP000 
Dividend in respect of the 
year ended 31 March 2016 
at 1.9p/5.7p per ordinary share   -              1,209          3,675 
Dividend in respect of the 
year ended 31 March 2017 
at 2.5p per ordinary share        1,635          -              - 
Dividend waived by employee       -              -              (8) 
benefit trust 
                                  1,635          1,209          3,667 
Dividend paid by subsidiary to 
non-controlling interests 
(minorities)                      1,389          586            - 
                                  3,024          1,795          3,667 
 
 

The company paid a further dividend of 4.6p per share on 6 October 2017, after the period end. The total paid was GBP3.02 million.

 

7.Intangible non-current assets

 
                                  Distribution  Development 
                        Goodwill  Rights        Costs        Total 
Cost                    GBP000      GBP000          GBP000         GBP000 
Cost at 1 April 2016    17,930    1,442         59,712       79,084 
Additions               -         -             4,231        4,231 
Cost at 30 September    17,930    1,442         63,943       83,315 
2016 
Additions               -         -             4,007        4,007 
Contributions from      -         -             (307)        (307) 
third parties 
Cost at 31 March 2017   17,930    1,442         67,643       87,015 
Additions               -         -             3,773        3,773 
Cost at 30 September    17,930    1,442         71,416       90,788 
2017 
Amortisation 
Amortisation at         -         687           29,060       29,747 
1 April 2016 
Charge for the period   -         36            1,557        1,593 
Amortisation at 30      -         723           30,617       31,340 
September 2016 
Charge for the period   -         36            1,459        1,495 
Impairment charge       -         -             297          297 
Amortisation at         -         759           32,373       33,132 
31 March 2017 
Charge for the period   -         39            1,661        1,700 
Amortisation at 30      -         798           34,034       34,832 
September 2017 
Net book value at       17,930    644           37,382       55,956 
30 September2017 
Net book value at       17,930    683           35,270       53,883 
1 April 2017 
Net book value at       17,930    719           33,326       51,975 
30 September2016 
Net book value at       17,930    755           30,652       49,337 
1 April 2016 
 
 

8.Property, plant and equipment

 
                                            Fixtures, 
                       Freehold  Plant and  fittings &  Motor 
                       Property  Machinery  equipment   Vehicles  Total 
Cost                   GBP000      GBP000       GBP000        GBP000      GBP000 
Cost at 1 April 2016   730       1,658      710         53        3,151 
Additions              -         30         24          32        86 
Disposals              -         (13)       -           -         (13) 
Foreign exchange       -         84         1           8         93 
movements 
Cost at 30 September   730       1,759      735         93        3,317 
2016 
Additions              -         17         131         31        179 
Disposals              -         (267)      -           (47)      (314) 
Foreign exchange       -         32         (1)         (2)       29 
movements 
Cost at 1 April 2017   730       1,541      865         75        3,211 
Additions              -         51         143         -         194 
Foreign exchange       -         (30)       -           (5)       (35) 
movements 
Cost at 30 September   730       1,562      1,008       70        3,370 
2017 
Depreciation 
Depreciation at        -         772        507         39        1,318 
1 April 2016 
Charge for             5         84         43          2         134 
the period 
Disposals              -         (12)       -           -         (12) 
Foreign exchange       -         24         -           2         26 
movements 
Depreciation at 30     5         868        550         43        1,466 
September 2016 
Charge for             8         82         35          5         130 
the period 
Disposals              -         (240)      -           (37)      (277) 
Foreign exchange       -         27         2           (2)       27 
movements 
Depreciation at        13        737        587         9         1,346 
1 April 2017 
Charge for             6         76         52          5         139 
the period 
Foreign exchange       -         (3)        -           -         (3) 
movements 
Depreciation at 30     19        810        639         14        1,482 
September 2017 
Net book value 
Net book value at 30   711       752        369         56        1,888 
September 2017 
Net book value at      717       804        278         66        1,865 
1 April 2017 
Net book value at 30   725       891        185         50        1,851 
September 2016 
Net book value at      730       886        203         14        1,833 
1 April 2016 
 
 

9.Investment property

 
                                                    Freehold 
                                                    Property  Total 
Valuation                                           GBP000      GBP000 
Valuation at 1 April 2016, 30 September 2016,       189       189 
31March 2017  and 30 September 2017 
Depreciation 
Depreciation at 1 April 2016, 30 September          4         4 
2016,31 March  2017 and 30 September 2017 
Net Book Value 
Net Book Value at 1 April 2016, 30 September2016,   185       185 
31 March  2017 and 30 September 2017 
 
 

This financial information was approved by the board on 05 December 2017.

 

Copies of this interim report are being sent to all of the Company's shareholders. Further copies can be obtained from the Company's registered office at 78 Coombe Road, New Malden, Surrey KT3 4QS.

 
DIRECTORS AND OFFICERS   Peter Lawrence                   (Chairman) 
                         Marc Loomes                      (Chief Executive) 
                         Kevin Stockdale                  (Finance Director) 
                         Julia Trouse                     (Executive Director and Company Secretary) 
                         Brett Clemo                      (Executive Director) 
                         Andrew Jones                     (Non-Executive Director, appointed 1stDecember 2017) 
                         Anthony Rawlinson                (Non-Executive Director) 
REGISTERED OFFICE        78 Coombe Road, New Malden, Surrey. KT3 4QS 
                         Tel: 020-8336-2900               Fax: 020-8336-0909 
COMPANY NUMBER           01818170 
INFORMATION AT           www.ecoanimalhealthgroupplc.com 
 
 

LEI: 2138009XN9DJ3YP70B55

 

Classification: 1.2. Half yearly financial reports and audit reports/limited reviews

 
 
 

View source version on businesswire.com: http://www.businesswire.com/news/home/20171205006309/en/

 
This information is provided by Business Wire 
 
 

(END) Dow Jones Newswires

December 06, 2017 02:00 ET (07:00 GMT)

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