Vet products firm announces strong trading for the year

Cheshire veterinary products firm Dechra has said trading in the year has been strong and in line with expectations.

The Northwich firm issued a trading statement this morning covering the last 12 months.

Reported group revenue for the year increased by 14% with European revenues up by 11%.

Chief executive Ian Page said “We are pleased to have delivered another year of strong revenue growth.

“This has been driven from our core portfolio, good market penetration and recent pipeline launches. In addition the acquisition of the AST Farma, Le Vet and RxVet Limited businesses have all grown strongly in the year, and since acquisition.”

The integration of AST Farma, Le Vet and RxVet Limited, now Dechra Veterinary Products New Zealand Limited, is proceeding well and trading is in line with expectations.

The North American part of the business saw revenue increase by 18%.

The firm has obtained a six month extension of the availability period of its £350m multi-currency term loan facility, from 30 June 2018 to 31 December 2018.

Dechra will announce its preliminary results for the year in September.