Dechra in decent shape on back of US growth

PET pharmaceuticals group Dechra has seen strong growth in its North American business.

In its preliminary results announcement for 2015, the firm, which has a large operation in Shrewsbury, reported revenue of £203.5m, a 10% increase in constant exchange rate (CER) terms on 2014’s £193.6m total.

Underlying operating profit was up from £42.2m to £44.4m.

Star performer for Dechra was North America Pharmaceuticals with a revenue increase of 59.9% (at CER), driven by the growth of its core brands, new product launches and the acquired product Phycox.

EU Pharmaceuticals revenue grew by 3.9% (at CER) with a strong performance in Companion Animal Products (CAP) partly offset by a decline in Food producing Animal Products (FAP).
 
The firm is continuing with its geographical expansion plans with trading commencing in two new subsidiaries in Canada and Poland.

Ian Page, chief executive officer, said: “During the financial year, we focused on the execution of our strategic priorities. As a result we consolidated our position within the market, invested in the launch of new products and expanded geographically, delivering underlying operating profit growth of 11.6% at constant exchange rates.

“Our strong balance sheet gives us the flexibility to pursue strategic opportunities as they arise in the future.”