3rd Sep 2013 12:31
LONDON (Alliance News) - Dechra Pharmaceuticals PLC Tuesday showed increases in total pretax profits and revenues in the year ended June 30, after the successful integration of its 2012 acquisition of Eurovet and the sale of its Services business.
The veterinary pharmaceuticals group had a total pretax profit of GBP44.6 million, ahead of GBP32.9 million in the previous financial year. Revenues also increased to GBP522.4 million from GBP440.0 million.
Dechra said that current trading is in line with expectations, and that it is confident in its continued performance despite a challenging economic environment. The company proposed a final dividend of 9.66 pence per share, making its total dividend for the year 14.00 pence, up from 12.27 pence the previous year.
Although it had a slow third quarter due to prolonged bad weather, pharmaceutical sales for the full year increased by around 5% in Europe. U.S pharmaceutical revenues were hampered by third-party supply issues, particularly in its product Animax, but delivered growth of 4.7% in the year.
The group completed that sale of its Services Segment in August to Patterson Companies Inc. for USD87.5 million as part of its ongoing strategy to establish a focused pure-play veterinary pharmaceuticals business.
Dechra Pharmaceuticals sells and markets pharmaceuticals and pet foods for the veterinarian industry. Shares were trading up 3 pence to 693.00p Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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