Results round-up

Premier Veterinary Group’s shares fell on Monday after the company almost doubled its first half pre-tax loss to £1.07m from £0.57m the previous year

The firm, which provides services to third party veterinary practices, attributed the wider loss to an increase in administrative expenses to £2.2m in the six months to end of March from £1.2m a year earlier.

However, revenues rose to £1.4m from £1.1m as the number of pets on the company’s preventive healthcare programme Pet Care Plan more than doubled to 117,000 from 57,100.

“Premier Veterinary is continuing to invest in the global expansion of its Pet Care Plan business with the objective of achieving significant and sustained growth for the foreseeable future,” said chief executive Dominic Tonner.

Iofina impressed investors with confirmation of record iodine production, annual losses cut more than expected and encouraging sounds from its bond talks.

The company was positive at the earnings before interest, tax, depreciation and amortisation (EBITDA) level for the first time since opening its current IOsorb plants, and produced a record 569.1 metric tonnes (MT) of crystalline iodine, to become the second largest iodine producer in North America.

While full year revenues of $20.3m were down 21% losses were trimmed to $3.31m or $0.023 per share from $6.71m or $0.052 a year before.

Continued cost reductions helped gross profits improved by two thirds to $4.34m and leave cash and equivalents at year end stood at $4.16m

Iofina added that "positive ongoing discussions" were being held with the holders of its $19.1m convertible loan notes holders "with a view to restructuring the group's convertible debt position".