| Animalcare appoints group finance director |
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| Friday, 11 April 2008 | |
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Animalcare Group PLC has appointed John Tobin to the board of Animalcare Group plc with immediate effect as group finance director.
Tobin, 54, a chartered accountant, was finance director of Batleys plc, the cash and carry wholesalers, for 14 years, leaving the company in 2006 following its acquisition by Bestways Holdings. Latterly he has worked as an independent financial and commercial consultant. The veterinary products group (LSE:ANCR) said that Tobin’s financial skills and his experience of large scale distribution and manufacturing represented an excellent fit with its requirements. The Animalcare Group consists of four different businesses: Animalcare, which sells specialised products to veterinary surgeons, the ear tag and animal identification specialist Ritchey, mail order farming product firm Fearing and Travik, a manufacturer of chemical products for the other members of the group as well as supplying liquid products to the automotive and cleaning industries. The group’s interim results for the six months ended 31 December 2007, announced on 31 March 2008, revealed a pre-tax loss of £7,000 on a fall in group turnover from £3.7 million in 2006 to £3.4 million, compared with a pre-tax profit of £143,000 in 2006. Animalcare blamed challenging conditions in the livestock industry due to outbreaks of foot and mouth and bluetongue. Related links |
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As the economy hits the most significant downward cycle in 50 years, finance directors must take stock of their companies' remuneration and compensation packages.