US sales boost Dechra growth
International growth has boosted revenue at Dechra Pharmaceuticals over the last quarter. The Stoke-on-Trent-based company said sales were up 64.1 per cent in its US division.
Through an interim management statement released this morning, the veterinary product supplier said overall revenue for the three months from July was 7.7 per cent ahead of last year.
Sales in its US Pharmaceuticals division were 64.1 per cent higher than the first quarter last year with recent acquisition DermaPet providing "a significant contribution to this growth", said the company.
Dechra said higher margin products, including Vetoryl and Felimazole, performed "particularly strongly" and drove an increase in operating margin.
Its European pharmaceuticals sector grew revenues in the first quarter by 10.5 per cent.
"The group has made a solid start to the financial year and its financial position remains strong," said Dechra.
"The board believes that the group is well positioned to maintain growth despite the uncertain global economic conditions."
