Dechra sees vet sales increase
DECHRA Pharmaceuticals, the veterinary services and drug development company, said today that it remained confident of meeting management expectations.
The group, which employs 206 people at its Dales operation in Skipton, North Yorkshire, reported that its pharmaceuticals division has continued to make good progress with first quarter revenue 11% higher than the same period last year.
Sales of its Vetory product into US distributors was $1.2m (£722,000). Sales into North American veterinary practices are reflecting month-on-month growth and in September were around $500,000 (£300,000) – a 25% increase over sales achieved in June.
Dechra’s services division achieved first quarter revenue growth of 3.3%. National Veterinary Services maintained its operating margin at the level achieved in the financial year ended June 30.
In September, Dechra announced a 15% increase in group revenue to £350m for the year end. Adjusted pre-tax profits were £23.4m, up from £16.9m.
Its Dale operation won seven new products from third party customers during the period including a five year supply agreement with its biggest contract customer.
Dales manufactures the majority of Dechra’s own branded licensed pharmaceutical products but also generates 50% of its revenues from third party manufacture, predominantly for human pharmaceutical companies – Dechra’s only significant source of revenue not derived from the veterinary market.
Dales is currently in the process of seeking FDA approval to manufacture products for the US market.
