ANIMALCARE Plc, the Dunnington-based veterinary supplies group today reported soaring profits.

In the six months to December 31 pre-tax profits rose from £94,000 to £1.38 million – up by 47 per cent.

Its operating profit was up 35 per cent to 1.43 million on revenues of £5.99 million.

Profits are expected by further boosts from two new products to be launched by June this year and at least two more launches planned by the second half of 2011.

A first interim dividend of 1p per share has been offered.

James Lambert, chairman of Animalcare, said:"The first six months of this financial year has seen the completion of the transformation of the business to a high margin focused companion animal veterinary products business which is in a net cash position and will be debt free by March 31, 2011. The Board believes that trading in the second half is in line with market expectations."

The figures reflect completion of the sale of Ritchey, Fearing and Travik businesses, which together comprised Animalcare’s livestock division, meant that the company was now focused entirely on the companion animal market.

Revenue from continuing operations improved by 12 per cent, almost entirely driven by new pharmaceutical products, which increased total basic earnings per share from 2.8 pence to 4.8 pence, an impressive 71 per cent increase year on year.