UK's ECO Animal Health falls on dour annual forecast

ECO Animal Health

01/10/2024 09:05

** Shares of veterinary medicines maker ECO Animal Health
 EAH.L  slide 16.5% at 81p
    ** Co expects FY rev to be materially below market
expectations of 92.6 mln pounds ($123.5 mln)
    ** Sees FY25 adj core profit in the region of FY23's 7.2 mln
pounds, while market view is at 8.2 mln pounds
    ** Cites challenges in China, due to low disease incidence
in summer and staggering sales in Southeast Asia
    ** Says forecasting FY adj core profit figure is challenging
due to forex headwinds, differing gross margins across regions
    ** EAH shares have fallen about 24% YTD
 
 ($1 = 0.7497 pounds)

 (Reporting by Yamini Kalia in Bengaluru)
 ((Yamini.Kalia@thomsonreuters.com;))