14th Jan 2016 08:01
LONDON (Alliance News) - Veterinary pharmaceutical company Dechra Pharmaceuticals PLC on Thursday said trading in the first half to the end of December was strong, leaving the group in line to meet its expectations for the full year.
FTSE 250-listed Dechra said its revenue grew 10% in the first half including Croatian pharmaceutical company Genera, which it acquired in August. Excluding Genera, revenue grew 7%.
Revenue for the company's European business slipped 3.0%, hit by the weak euro and up 4.0% in constant currencies, while its North American business delivered 51% revenue growth for the half, with good performances from its dermatology, endocrinology and ophthalmic ranges.
"This is an exciting time for Dechra as we continue to grow organically, launch new products and move into new territories through acquisitions. As a result of our focus on and execution of our strategy, we are delivering a strong first half performance. With group trading in line with management expectations for the 2016 financial year, we remain confident in our future prospects," said Chief Executive Ian Page.
By Sam Unsted; [email protected]; @SamUAtAlliance
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