Found this on MF but was wondering how the drought would impact their mostly rural animal business
m Animal Health Ltd (ASX: AHX)
Apiam is a veterinary business that is located in the regional areas of Australia. It is benefiting from the growing livestock sector and it is also opening vet clinics inside regional Petstocks, such as Bendigo, which should allow for good referrals.
The company recently reported that it had achieved year to date organic growth of 4.3% and group revenue growth of 8.9% to the end of May 2018. It also said that the underlying earnings before interest, tax, depreciation and amortisation (EBITDA) margin is expected to increase as well.
Apiam is trading at around 10x FY19’s estimated earnings.
Ann: Exclusive Distribution Agreement with Plumbline, page-16
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