Animalcare Group Plc (ANCR.L), a supplier of veterinary medicines, on Friday said it has appointed Iain Menneer, currently Managing Director of Animalcare Ltd, as Group CEO with immediate effect. Menneer succeeds Stephen Wildridge, who is stepping down from the position and will leave the firm by the end of October.
Wildridge will continue as a board director until then, and will remain with the business as Director of Strategy and Business Development driving forward Animalcare’s key product development programs and assisting IainMenneer.
Menneer joined Animalcare Ltd in December 2003, and was appointed Managing Director on March 2012.
Separately, the company issued its trading update for the six months ended December 31, confirming that the business is performing strongly and is on track to meet market expectations. The company also issued a positive outlook for the full year to June 2013.
Animalcare said its total first half revenue grew approximately 13 percent to about 6.1 million pounds. Gross profit is 16 percent higher than last year.
As announced earlier, the re-introduction of Buprecare ampoules marked a positive start to 2013. “Animalcare’s performance in the first half of the financial year represents a solid start. The launch of Vitofyllin and the re-introduction of Buprecare ampoules have had a motivating influence across the business and we expect to build on these products during the second half. Prospects for the second half look positive with full year results to June 2013 expected to be in line with market expectations,” the company said in its statement.
The company added that it expects to meet target to launch four new veterinary medicines in the current financial year.
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by RTT Staff Writer
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