Dechra grows half-year income
Dechra Pharmaceuticals, based in Stoke-on-Trent, has hailed a "robust" six months' trading after revenue from its US operation grew by more than 40 per cent.
In a trading update to the Stock Exchange, the veterinary pharmaceutical manufacturer said total group sales for the six months ending 31 December were 9.1 per cent ahead of the comparable 2010 period.
Revenue from US Pharmaceuticals was ahead of the comparable period last year by 40.9 per cent, thanks to strong growth in its DermaPet, Vetoryl and Felimazole products.
"Trading within our veterinary products segments, the main area of our strategic focus, continues to perform robustly," said Dechra. "Revenues in our services segment remain resilient; however, our revenue increase in this area has been offset by a decrease in margin. Overall the group has performed to management's expectation within the period."
Dechra's European pharmaceuticals division achieved revenue growth of about 10.5 per cent while branded pharmaceutical revenue increased by 13.8 per cent.
Specialist pet diets sales remained flat due to a reduction in export sales, said Dechra. However, this was offset by an increase in core market income.
