VetPlus grows to £10m turnover
Lytham-based veterinary nutraceutical manufacturer, VetPlus, has broken through the £10m 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.
Its record turnover follows growth of 22 per cent over the last twelve months, with 35 per cent increase in international sales year on year.VetPlus chairman David Haythornthwaite said: “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.”