Jul 19th 2012 - Edison Investment Research today published a report on Animalcare (ANCR.L, LSE:ANCR, LON:ANCR) entitled "Moving On From A Difficult Year". In summary, the report says:
Animalcare’s sales are expected to fall by 8% in FY12, because of the ongoing effect of lost Buprecare ampoule sales, lower identity chip sales and the termination of a distribution agreement for cat flaps. However, the company should resume its growth profile in FY13 as it benefits from the continued launch of new products and the re-launch of Buprecare ampoules. Its shares have fallen by 23% since its profits warning for FY12, but this appears to be excessive. Underlying growth of its veterinary drugs is c 17% and it has a robust pipeline. Our valuation is reduced by £4.4m to £30.6m.
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