Dechra boost as it sees owners spending more time with pets

Pet drugs firm Dechra Pharmaceuticals said that the stronger than expected trading performance outlined in its recent trading update has continued as people spend more time with their pets.

Dechra said it develops, manufactures and sells high quality products exclusively for veterinarians worldwide
Dechra said it develops, manufactures and sells high quality products exclusively for veterinarians worldwide

The group, which manufactures pharmaceuticals in Skipton, said it delivered “excellent” year on year organic revenue growth supplemented by the acquisitions of Osurnia and Mirataz, both of which delivered good incremental growth.

Dechra said group revenue jumped 21 per cent at constant exchange rates in the year to June 30.

Sign up to our Business newsletter

Sign up to our Business newsletter

Revenue rose 20 per cent at its European pharmaceuticals division and it was up 22 per cent at its North America pharmaceuticals division.

Mirataz was launched in Europe during the year and Dechra said it is performing strongly around the world and ahead of expectations.

The firm also reported a strong 11 month contribution from Osurnia

Ian Page, Dechra’s chief executive, said: “We are pleased to have continued to outperform a robust market throughout the pandemic affected financial year.

“We have benefited from above average market growth in the majority of our key markets. The reasons for this growth are not yet fully clear with evidence of increased companion animal numbers remaining unconfirmed at this point.

“What is clear is that people have been spending more time with their pets and have therefore been more cognitive of their welfare. Thanks to the exceptional effort of our talented people, our business has operated well throughout the pandemic. All manufacturing sites and laboratories have remained operational and communication with customers has been excellent through increased use of digital media.”

Dechra will announce its preliminary annual results on Monday September 6.

The firm is a global specialist veterinary pharmaceuticals and related products business.

It said it develops, manufactures and sells high quality products exclusively for veterinarians worldwide.