Virbac rises after double-digit Q4 sales growth, outlook hike

Virbac SA

19/01/2023 09:13

** Shares in Virbac  VIRB.PA  rise 5% after the French
animal drugs maker reported double-digit Q4 sales growth and
raised its guidance
    ** Its FY revenue grew 9.6% at constant currency to 1.22
billion euros, while Q4 figure was up 15.9% to 294.9 million
euros
    ** Virbac now expects an EBITA margin of around 15%, against
14-15% seen earlier
    ** Jefferies says in a note Q4 boosted FY revenues, though
the quarter had a "very easy base comparison", with Virbac
citing stocking effects possibly impacting Q1 2023 performance
    ** "The company is unaffected by changes in interest rates
and has a healthy financial situation that allows it to sustain
its development," says Midcap Partners in a note
        ** Shares are track for their best day since Nov. 24,
when they closed 5.3% higher
($1 = 0.9262 euros)
 (Reporting by Dina Kartit)
 ((dina.kartit@thomsonreuters.com))