Animalcare (AIM:ANCR) - customer concentration update
Our commentary stated that customer concentration could be viewed a concern with 3 key customers representing 91% of Group revenue
The Company has clarified that this is driven by the supply chain model in the UK whereby there are 3 main wholesalers supplying the whole market. So Animalcare sells product into the wholesalers who in turn sell these products to circa 4,500 vet practices/branches within the UK. The Company’s sales team (field force and telesales)…
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