Liam Nagle, CEO, Norbrook
Norbrook Holdings today announced its results for the year to July 2016, which show revenue of £239 and an increase of £14.5m to £38.5m in recurring operating profit.
Established in 1969 by the late Lord Ballyedmond, Norbrook is one of the largest privately owned veterinary pharmaceutical companies in the world.
The company recorded another solid year with growth generated across all of its business units, with turnover increasing to above the industry average.
An extensive, multi-year capital investment programme began during 2016 which aimed to strengthen the company’s position in the global veterinary pharmaceutical market.
Norbrook has launched five new products in the last year, helping to drive business in the US and EU, up 16% and 24% respectively. Exports (outside of UK) now account for more than 80% of revenue.
CEO Liam Nagle commented: “We have had another strong year, where we have seen increasing revenue in all regions. We have further strengthened our product offering in both the EU and North America with a number of new product launches, and we continue to work closely with our customers in each market to identify product opportunities.
“We have embarked on a significant multi-year capital investment programme, which includes the upgrading and expansion of our manufacturing capability, new laboratory facilities, and the strengthening of our IT infrastructure. We are investing for the future and have developed a clear strategy for the business to take advantage of what continues to be a buoyant sector.”