(News Bulletin 247) – The Vetoquinol stock rose Thursday morning following the announcement of a 7.7% increase in its first quarter turnover, to 145.5 million euros.
At constant exchange rates, the growth in its turnover amounts to 7.2%.
In its press release, the animal health specialist points out that its activity in the first quarter took into account an effect of ‘overstocking’ among its customers in North America and Europe.
The group explains this phenomenon by its desire to ensure continuity of service to its customers with a view to setting up a new ERP tool (management software package) during the month of April.
Excluding this effect of overstocking, which will be smoothed out over the first half, the growth in the laboratory’s turnover would have been balanced at constant exchange rates over the quarter.
Vetoquinol, which points out that its financial structure has continued to strengthen thanks to positive cash flow generation in the first quarter, maintains its objective of ‘profitable growth’ over the full year.
At 10:10 a.m., the stock gained 2.6%, while the SFB 120 index fell at the same time by 0.2%.
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