Dechra sees revenues increase

PHARMACUTICAL group Dechra has announced that full year revenue was more than 5% head of the equivalent period last year.

The Staffordshire-based group said that performances had been strong across both its  European and United States markets and as such, it was confident about future growth prospects.

In a trading update ahead of the group’s preliminary results for the year ended June 30, Dechra said revenue was up 5.3% on last year.

Across its European division revenue increased by approximately 9% compared to last year with both specialist pet diets and pharmaceuticals showing solid growth.  Foreign currency fluctuations did not have a material impact on these numbers, said the group.
 
Its manufacturing business, Dales Pharmaceuticals, performed well during the period due to improved efficiency and increased production of both its own and third party products.
 
In the United States, overall revenue was around 36.6% higher than last year. Revenue derived during the period from the US version of its Vetoryl product was $6.6m.
 
The group’s services division saw revenue grow by approximately 3.3% compared to last year.
 
Dechra said operating cash flow during the period had been strong, resulting in a further reduction of net borrowings.
 
In a statement, Dechra said: “Although our markets have experienced slower rates of growth than historical levels, we have demonstrated solid progress compared to last year.

“The group continues to perform robustly and in line with management expectations; we remain confident about our future growth prospects.”
 
The group’s preliminary results for the year to June 30 will be announced on Tuesday September 7.