Lancashire-based veterinary nutraceutical manufacturer, VetPlus, has broken through the £10 million sales barrier for the first time, thanks to significant growth in international markets and an expanding product portfolio. With profitability also increasing by 130 per cent, it has been a great 12 months for the Lancashire firm.
Celebrating its 20th anniversary next year, VetPlus has become a global leader in Veterinary Nutraceuticals, with a broad range of market leading products.
Its record turnover follows growth of 22 per cent over the last twelve months, with an impressive 35 per cent increase in international sales year on year.
Comments VetPlus Chairman, David Haythornthwaite: “We have invested significantly in our research and development facilities in Lytham over the past year, enabling us to remain ahead of the sector with innovative new products.
“Manufacturing our products in house ensures that we have the flexibility our international customers demand and the processes to maintain the highest standards of quality control.
“That commitment has ensured increased demand at home and abroad and we’re delighted to have reached such a turnover milestone.”
Much of VetPlus’ UK success is based on the company’s strategy of selling its products exclusively through independent vet practices, ensuring they are used correctly and appropriately, leveraging important endorsement from veterinary professionals.
The international strategic growth plan implemented seven years ago, has led to the establishment of 26 exclusive VetPlus partners worldwide.
Neil Pullar, international sales director says: “The company has become particularly successful in the Asia Pacific region, especially in Korea, China and New Zealand. We have a great business model that works well for all concerned and expect to see a further 30 per cent increase in international sales over the coming year.”
Director of Overseas Subsidiaries, Flora Correderas said: “It’s been a pretty good year all round. Our Spanish subsidiary has returned to profit after the financial crisis and while Germany still has teething problems, the market for our products is huge. Whilst we don’t expect to show a profit there next year, we are totally focused on growing our market share and establishing our brand. In the meantime, plans for the opening of our French subsidiary are at an advanced stage and we expect to make an announcement shortly.”