14 Jun 2022
Tangerine Group, which owns nutraceutical brand as well as Agri-Lloyd and Farmsense, has reported a 27% increase in turnover and pre-tax operating profits up 58.3% for year to June 2021.
Vet Times
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David Haythornthwaite, owner and chairman of Tangerine Group, which owns VetPlus.
The group that owns nutraceutical brand VetPlus has announced another year of record growth and profits, with turnover up 27% and pre-tax profits rising by 58.3% for the year ending June 2021.
Tangerine Group, founded by its owner and chairman David Haythornthwaite, has grown across its 27 years and the latest results mark its most successful to date, with revenue reportedly driven by higher levels of pet ownership globally, and growth in the Asian markets where it has a strong presence.
The family owned Lancashire-based business, which has VetPlus as well as brands Agri-Lloyd and Farmsense, saw its turnover rise from £28.1 million to £35.7 million, and pre-tax profit increase from £6 million to £9.5 million.
Mr Haythornthwaite said: “COVID-19 presented many challenges and some companies were fortunate to benefit, and others not so.
“In our case, the increased love of pets during lockdown led to a huge increase in pet ownership, which obviously had a knock-on effect. This past year has, once again, highlighted the importance of controlling your manufacturing process from start to finish.
“I’m incredibly proud of the team across the Tangerine Group for this achievement. We continued to operate throughout the COVID-19 pandemic without losing a single day’s production, and these results are testament to everyone who works within the business both here in the UK and across the world.”
Mr Haythornthwaite added: “We’ve grown every year since the business was established and have continually reinvested our profits back into our people, plant, and processes to ensure we remain at forefront of our field.
“The group’s success is based on having clear focus and a simple strategy, which both our employees and distributors embrace. This, combined with our own in-house research and development, and state-of-the art manufacturing facility in Lytham, ensures we are well-placed for future growth and expansion.”
Tangerine Group has partners and subsidiaries in 42 countries, and manufactures all its products at its Lytham facilities.
