Dechra boosted by North American performance

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VeteRINARY products firm Dechra Pharmaceuticals said it expects group revenue to rise in its financial year to the end of June.

In a trading update the group said revenue was up 10 per cent on constant exhcange rates.

Revenue growth in North America for the 2015 financial year was approximately 60 per cent at constant exchange rates. European revenue was up 4 per cent at cosntant exchange rates.

Dechra said that its European performance was driven by Britain.

Ian Page, chief executive officer, said: “We are pleased to report that our trading results will be ahead of last year and in line with management expectations.

“This clearly demonstrates that we are executing our strategy successfully.

“We have made good progress on two aspects of our strategic plan, namely portfolio focus with good sales growth of our existing products, and geographic expansion with the opening of new subsidiaries. We remain well placed for future growth.”

The firm said its North American business was enhanced by the full year trading of Phycox, the relaunch of Ophthalmics and the start of its Canadian subsidiary.