9th Jul 2019 08:38
(Alliance News) - Dechra Pharmaceuticals PLC said Tuesday that trading was "strong" and in line with expectations in its recently completed financial year, as its core business continued to deliver.
For the year ended June, Dechra expects to report revenue growth of 18% with growth in constant currency of 17%. In financial 2018, Dechra reported pretax profit of GBP28.9 million on revenue of GBP407.1 million.
In the recently year, Dechra said its European Pharmaceuticals unit generated 17% reported and 18% constant currency revenue growth. Excluding acquisitions and third-party contract manufacturing, Dechra's European Pharma business achieved 7% like-for-like revenue growth, driven by its core business.
Meanwhile, Dechra's North American Pharma unit delivered 20% reported and 15% constant currency growth in the recent year. This was after its companion animal portfolio outperformed the market strongly, it said.
"We are pleased to have delivered another year of strong revenue growth," Dechra Chief Executive Officer Ian Page said. "This has been driven from our core portfolio, good market penetration and realisation of significant Le Vet revenue synergies. In addition the newly acquired Caledonian and Venco businesses have performed well."
In October, Dechra agreed to buy equine pharma business Caledonian Holdings Ltd for GBP4.4 million and animal vaccines firm Laboratorios Vencofarma do Brasil Ltda for GBP37.8 million.
Shares in Dechra were 2.0% higher at 2,816.00 pence in London on Tuesday.
Related Shares:
DPH.L