14th Jan 2015 07:48
LONDON (Alliance News) - Dechra Pharmaceuticals PLC on Wednesday said trading in the first half of its financial year was in line with its expectations and said it expects to meet its forecast for the full year, despite revenue being held back by currency fluctuations.
Group revenue for the six months to the end of December rose 6% against what the FTSE 250-listed group said was a soft comparator the year before. At constant currencies, group revenue rose 12% in the half.
Europe sales were up 0.5% in the half, again held back by the weak euro. At constant currencies, sales were up 7%. Currency translation also held back sales in the US, though total sales still rose 54% on a reported basis, up 59% at constant currencies, as Dechra launched its Phycox, Osphos and ophthalmic products in the market.
"The positive momentum experienced during the end of the last financial year has been maintained. On the strength of our recent revenue growth, we will accelerate investment in our sales and marketing infrastructure, particularly in the US as we look to strengthen our market presence," said Dechra Chief Executive Officer Ian Page.
"We remain confident that the execution of our strategy will continue to deliver future value," Page added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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