Pet meds firm Dechra on track with international expansion plans

PET pharmaceuticals firm Dechra has seen an increase in revenue and is pressing ahead with plans to increase its international presence.

In an interim management statement covering the period from January 1 to date, the Northwich-based company said group revenue for the third quarter ended March 31 was 4.7% ahead of last year (4.9% at constant currency).  

For the nine months ended March 31, revenue growth was 2.8% at reported currency (1.3% at constant currency).

In the third quarter its European pharmaceuticals operation increased revenues by 3.3% (2.9% at constant currency).  Revenues for the nine months to 31 March 2014 grew by 2.8% (0.8% at constant currency).
 
Sales of companion animal products in the quarter grew by approximately 9% at constant currency.

Food producing animal products sales were flat but improved performance of equine products offset the decrease of large animal antibiotics products which declined by approximately 5% in the quarter.  
 
In the US, total reported revenue was up by 16.3% on the same period last year (22.4% at constant currency).  Revenue growth for the nine months to March 31 2014 was 3.2% (6.0% at constant currency).
 
Northwich-headquartered Dechra said momentum in its endocrinology and dermatology therapeutic areas in the US remains strong, with products Vetoryl, and Felimazole performing above expectations.
 
The group’s Italian subsidiary started trading on  March 1 and marks the latest milestone of its geographic expansion strategy.  

“We also remain on track to open our Canadian subsidiary during Autumn 2014. By establishing our own brand within these markets, we should deliver additional margin and growth in the future,” Dechra said.