Total Revenue


2019: £481.8m

AER: +6.9%

CER: +6.8%

Operating Profit


2019: £127.4m

AER: +0.7%

CER: +0.4%

Underlying Diluted
Earnings Per Share


2019: 90.01p

AER: +2.4%

CER: +1.7%

Dividend Per Share


2019: 31.60p

AER: +8.5%

CER: +8.5%

Operating Profit


2019: £39.0m

AER: +33.8%

CER: +33.6%

Reported Diluted
Earnings Per Share


2019: 30.07p

AER: +8.9%

CER: +7.3%

Financial Performance

  • Revenue growth of 6.8% to £515.1 million.
  • Underlying operating profit increased to £128.3 million.
  • Underlying EBIT margin (excluding the impact of pension credit) reduced by 80 bps to 24.9% due to mix effect.
  • Underlying diluted EPS increased by 1.7% to 92.19 pence.
  • Reported operating profit growth of 33.3%.
  • Full year dividend increased by 8.5% to 34.29 pence.
  • Strong cash generation with cash conversion of 99.4%.

Strategic Progress

  • Ampharmco integration progressing well, Mirataz acquisition completed in April 2020 and Osurnia completed in July 2020.
  • CAP performance robust.
  • FAP growth accelerating.
  • Numerous product registrations achieved, and significant progress made on Akston and Tri-Solfen.

Forward-Looking Statements

This document contains certain forward-looking statements. The forward-looking statements reflect the knowledge and information available to the Company during preparation and up to the publication of this document. By their very nature, these statements depend upon circumstances and relate to events that may occur in the future and thereby involve a degree of uncertainty. Therefore, nothing in this document should be construed as a profit forecast by the Company.