Dechra turnover up by 12%

ANIMAL pharmaceuticals firm Dechra has increased revenue by about 12%, in line with management expectations for both revenue and operating profit.

The Cheshire-headquartered company said it was pleased with the half-year financial results for the period ended December 31 in an unaudited update ahead of the announcement of results on February 23.

The increased revenue was against a soft comparator period in the previous year.

“Good momentum” has continued in Europe with sales growing 7% and there was 59% sales growth in the US following the successful launches of Phycox, Osphos and the Ophthalmic products and strong underlying growth of the existing portfolio.

Chief executive Ian Page said: “The positive momentum experienced during the end of the last financial year has beenmaintained.

“On the strength of our recent revenue growth, we will accelerate investment
in our sales and marketing infrastructure, particularly in the US as we look to strengthen our market presence.

“We remain confident that the execution of our strategy will continue
to deliver future value.”