Dechra enjoys revenue growth
DECHRA Pharmaceuticals, which has a major operation in Yorkshire, has said overall trading in the third quarter of its current financial year has been in line with expectations and remains consistent with its first half performance.
In a management statement covering the period from January 1, the firm said group revenue for the three months to March 31 was 4.1% ahead of last year.
For the nine months ending March 31, group revenue increased by 4% over the corresponding period last year.
Dechra’s Dales Pharmaceuticals base in Skipton forms the manufacturing division of the group and employs around 200 staff.
“In the third quarter, our European products business revenue grew by 5.1% compared to the same period last year. For the nine months to March 31, 2011 revenue was ahead of the comparable period by 5.5%. Pharmaceuticals revenue was in line with expectations but diets revenue, whilst still outperforming the market, has experienced some softness,” said the statement.
Revenue from its US Pharmaceuticals division was ahead of last year by 68.1% in the third quarter and by 36.4% for the nine months to March 31.
The firm said the third quarter growth had benefited from the £40m acquisition of Florida-based DermaPet, which was completed in October 2010.
The services division increased revenues in the third quarter by 2.6% while revenue for the nine months ended March 31, 2011 was 2.9% ahead of the same period last year.
“Current trading remains in line with the board’s expectations and we remain confident that the group will continue to make good strategic progress throughout the remainder of the financial year,” concluded the statement.
