Dechra hails ‘excellent year’ as revenues grow across all divisions
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Dechra Pharmaceuticals, the Cheshire-based vet products group, has reported ‘stronger than expected’ trading as more people are spending time with their pets.
The Northwich group reported another ‘excellent’ year of organic growth for the year to the end of June 2021 which was bolstered by its product acquisitions of Osurnia and Mirataz – both of which delivered ‘good incremental growth.’
It said group revenues for the period increased by around 21%. Revenues from its European business also grew 20% and turnover in North America climbed 22%.
Ian Page, CEO, said: “We are pleased to have continued to outperform a robust market throughout the pandemic affected financial year.
“We have benefited from above average market growth in the majority of our key CAP markets. The reasons for this growth are not yet fully clear with evidence of increased companion animal numbers remaining unconfirmed at this point.
“What is clear is that people have been spending more time with their pets and have therefore been more cognitive of their welfare.
“Thanks to the exceptional effort of our talented people our business has operated well throughout the pandemic; all Manufacturing sites and laboratories have remained operational and communication with customers has been excellent through increased use of digital media.”