Dechra Pharmaceuticals full-year revenue up 21%

Veterinary products manufacturer Dechra Pharmaceuticals said on Tuesday that full-year trading was strong and expressed confidence that it would not be hit by recent market volatility.

The company saw revenue growth of 21% at constant exchange rates. Excluding acquisitions, revenue was up 11% at constant and actual exchange rates.

In a trading update for the financial year ended 30 June, the company said revenue in EU Pharmaceuticals, excluding Genera, grew by 5% at constant currency but currency headwinds hit actual reported growth, which was 3%.

In the North American business, revenue increased by 37% at constant currency, excluding Putney and Brovel.

Dechra said the integration of its three acquisitions had advanced in line with its expectations, providing a platform for future growth.

Chief executive officer Ian Page said: “With three acquisitions, pipeline product launches, successful trading in our new subsidiaries and solid growth in our focus portfolio, Dechra has delivered another strong performance in the financial year 2016.

“We remain confident in our future prospects as we continue to execute our strategy; we believe that the growth opportunities available to us should not be affected by the current market volatility and uncertainty."