Dechra posts solid year of revenue growth
By Josh White
Date: Tuesday 10 Jul 2018
(Sharecast News) - Dechra Pharmaceuticals updated the market on its trading for the financial year ended 30 June on Tuesday, ahead of its preliminary financial results, reporting that trading in the year was "strong" and in line with management expectations.
The FTSE 250 firm said reported group revenue for the period increased by around 14% at constant exchange rates, or 13% at actual exchange rates.
It said European pharmaceuticals revenue growth was around 11% at constant currency, with North America pharmaceuticals revenue growth was 18%.
On the operational front, its board highlighted the acquisition of AST Farma and Le Vet in the European Union, and RxVet in New Zealand during the year.
"We are pleased to have delivered another year of strong revenue growth," said Dechra chief executive officer Ian Page.
"This has been driven from our core portfolio, good market penetration and recent pipeline launches.
"In addition the acquisition of the AST Farma, Le Vet and RxVet businesses have all grown strongly in the year, and since acquisition."
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