Write a commentNewry based Norbrook have announced their financial results for the year to 31st July 2017 with revenue increasing by £33M to £272M, a 14% rise in revenue year on year. Operating profit reached £50.2M an increase of £11.7M.
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To further strengthen the company’s position in the global veterinary pharmaceutical market Norbrook have made a significant capital investment in this past two years of more than £26M.
Three new products launched in the last year are also helping to drive business, particularly in the US. The North American market grew +17%.
2017 also saw an Increase in farm and companion animal categories, up 12% and 20% respectively
Liam Nagle, Chief Executive Officer, Norbrook said, “2017 was a solid year for us. We invested significantly in the business with a second new laboratory facility; upgrades to, and expansion of our manufacturing capability; and continued investment in our IT infrastructure. We further strengthened our portfolio with three new products. Carprofen Chewable Tablets for Dogs in the US in particular, supports our business growth plans in this significant market. New product development is a key growth driver for us going forward and we continue to work closely with our Customers to identify new opportunities.
“We are very confident in our plans for the future and our portfolio. We will continue to invest in delivering growth and a sustainable business with a clear and focused strategy to take advantage of what continues to be a buoyant veterinary pharmaceutical sector.”
