FY18 was a year of solid growth across all regions. See below some of our financial and operational highlights:
Operational Highlights
- Continued growth in North America (CER: +15%), following 17% growth in 2017
- 3 new products launches including 2 dairy products in the US - Teat Sealant and Eprizero, and Fipronil Combo (EU)
- Gross Margin up to 43.8%, 5th consecutive year of growth.
- Continued investment in R&D (up 12% on 2017), with a strong pipeline of products.
- Strong cash generation- Cash Conversion of 101% in 2018
- Significant Capital Investment of £13.9m (or 5% of Revenue), bringing total investment in the last two years to more than £40m.
- Operational efficiency programme implemented. Growth excluding this impact c.4%.
