Dechra Pharmaceuticals trades in line with FY expectations
By Iain Gilbert
Date: Thursday 09 Jul 2020
(Sharecast News) - Veterinary pharmaceuticals group Dechra Pharmaceuticals said on Thursday that trading in the year ended 30 June was "robust" and in line with management expectations.
Dechra said reported group revenues for the period were up 7% year-on-year, while European revenues grew 8% and North American sales increased 5% - including the acquisitions of Ampharmco and Mirataz.
The FTSE 250-listed firm said both its European and North American segments traded in line with its previously published outlook, where it expected the final quarter to soften following its record March performance.
Dechra did note that it had seen some US wholesaler inventory unwinds and some weakness continuing in key European markets, especially the UK.
Chief executive Ian Page said: "We are pleased to have delivered another year of solid revenue growth despite the uncertainties arising from Covid-19.
"This growth has been driven from good market penetration of our core portfolio, successful integration of our acquisitions and through the hard work, dedication, innovation and commitment of our employees."
As of 0920 BST, Dechra shares were up 0.069% at 2,920p.
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