21st Oct 2021 09:48
(Alliance News) - Dechra Pharmaceuticals PLC on Thursday reported positive start to its current financial year.
The veterinary products company will be holding an annual general meeting later on Thursday.
Northwich, England-based Dechra said trading in the first quarter of its current financial year, that started on July 1, was strong, especially in the US as the company continued to outperform the sector and benefit from strong growth in the Companion Animal market.
Dechra noted that, although trading is currently "encouraging", it remains too early in the year "to extrapolate this performance across the full year".
The FTSE 250 stock was trading 3.1% higher in London on Thursday at 5,183.58 pence a share.
Back in September, Dechra reported pretax profit jump to GBP74.0 million in the 12 months ended June 30, up 81% from GBP40.9 million a year prior and more than double the GBP27.8 million registered two years earlier.
Revenue climbed to GBP608.0 million in the company's recent financial year, up 18% from GBP515.1 million the year prior. Income remained 26% above the GBP481.8 million reported in financial 2019.
By Evelina Grecenko; [email protected]
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