Norbrook, which produces veterinary medicines, saw pre-tax profits tumble from £21.3m to £3.9m for the year ending July 2023. Turnover rose slightly to £238m. Andrea Iucci, who took over as the new chief executive around two months ago, said it was a year of significant transformation for the firm, which included £15m of investment in machining and infrastructure. Mr Iucci said that investment was needed to “improve manufacturing capacity” to achieve higher standards. Norbrook said it had “implemented a robust cost reduction strategy” to deal with the challenging global economic environment and heightened competition in the animal…
