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Livestock products company ECO Animal Health upgraded its outlook on performance following an unusually high level output in China during February amid ongoing demand.
Revenue and earnings before taxes, depreciation and amortisation or EBITDA, for the year ending 31 March 2021 was expected to be 'significantly ahead of market expectations and the prior year,' the company said.
February is traditionally a low event month in China, associated with the Chinese New Year Festival and national holidays, but demand had continued, the company said.
Restocking of the pig herd continues with total China hog herd numbers reported to be 350-to-380 million head compared with 250 million head in 2019.
Demand was also strong the U.S., it added.
At 9:18am: (LON:EAH) Eco Animal Health Group PLC share price was 0p at 237.5p