York-headquartered animal health business, Animalcare Group, says it returned to revenue growth in 2023 with higher sales across all its product segments and direct operations.

In an unaudited trading update for the year ended December 31 2023, the group adds that its full year revenues are expected to be approximately £74.4million. This represents a 4 per cent increase on the £71.6mill ion recorded in 2022.

Animalcare said it anticipates its underlying EBITDA will be in line with market expectations and at least in line with 2022 (2022: £13.1m).

Headline revenues benefited from strong growth in the Companion Animals oral health range, notably Plaqtiv+, which is a series of oral sprays, toothpaste and dental wipes for cats and dogs.

There was also demand for Danilon, which provides pain and inflammation relief for horses.

The company also reported continuing momentum of the Identicare pet microchipping and consumer-focused services business.

Additionally, Daxocox, which treats pain and inflammation for dogs with osteoarthritis, recorded double-digit growth across Animalcare’s direct sales territories.

Jenny Winter, chief executive officer, said: “I am delighted to deliver such a positive performance update for the full year which underlines our growing capability as well as the attractive fundamentals of the markets in which we operate.

“Our financial platform – stronger than ever – equips us with the firepower and flexibility to grow our business over the long term through investment in our people, our pipeline and external business development opportunities. That remains a key priority.”

Monks Cross-based Animalcare says it ended the financial year in a net cash position of £1.7m, (31 December 2022: £2.4m debt).

Preliminary unaudited results are expected to be published on April 9 2024.

Animalcare Group plc is a UK AIM-listed international veterinary sales and marketing organisation. Animalcare operates in seven countries and exports to approximately 40 countries in Europe and worldwide.