8th Jul 2015 06:40
LONDON (Alliance News) - Veterinary products company Dechra Pharmaceuticals PLC on Wednesday said it expects revenue to rise in its financial year to the end of June, despite taking a currency translation hit from the weakness of the euro, on the back of a robust performance in the US.
The FTSE 250-listed company said its group revenue for the year will be up 5%, but would have been up 10% at constant exchange rates owing to the weakness of the euro.
The group said its performance in Europe was strong in the year, though revenue will fall by 2% due to euro weakness. In constant currencies, Europe revenue rose by 4% thanks to a strong performance by its companion animal products franchise.
Dechra said trading in North America was very strong, with revenue growing by 64%, boosted by its Phycox product, the launch of its Osphos and Levocrine products and the launch of its subsidiary in Canada.
By Sam Unsted; [email protected]; @SamUAtAlliance
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