Norbrook profits steady on 8.5% revenue growth

Norbrooks Newry headquarters
Norbrooks Newry headquarters

The successful launch of new products on the global market helped push one of the province’s largest export businesses to an 8.5% growth in revenues to £216m last year.

Norbrook Laboratories, the Newry based vetinary pharmaceuticals firm founded by the late Lord Ballyedmond maintained pre-tax profits at £22m.

Results for the year to August 1, 2015 show that turnover in North America in particular grew by 12% in response to the new product launches, though European sales were less impressive .

“We had a solid year, outperforming the market in the majority of our business units,” said chief executive Liam Nagle.

“During the year we strengthened both our livestock and companion animal portfolios, with a number of important product launches.

“We continue to work closely with our customers to meet their market needs, and have a strong pipeline of new products under development which we are confident will drive above market revenue and earnings growth in the years ahead.

“The Animal Health industry is buoyant, and we see opportunities in most geographies and sectors. ”