Dechra Pharmaceuticals FY revenues and profits rise

Veterinary pharmaceuticals group Dechra said on Monday that both revenues and profits had risen throughout the twelve months ended 30 June.

Dechra stated revenues had grown 13.8% to £681.8m, while underlying operating profits were up 9.4% at £174.3m and underlying earnings were 9.2% stronger at £190.6m.

Diluted earnings per share improved 7.5% to 53.40p and dividends per share rose 10.8% to 44.89p.

The FTSE 100-listed firm cited "strong organic growth" in all key markets and across all therapeutic segments as fuelling much of its improved performance.

Dechra also said its pipeline had been bolstered through its "own innovation" and the acquisitions of Piedmont and Med-Pharmex, while its international portfolio strengthened through "numerous product approvals".

Chief executive Ian Page said: "We have continued to progress on all aspects of our strategy; the product development pipeline was strengthened, material acquisitions were completed post year-end and a new subsidiary was established in South Korea as we continue our geographical expansion."

Reporting by Iain Gilbert at Sharecast.com