Dechra feels the benefit of acquisition

DECHRA Pharmaceuticals yesterday revealed that it had achieved “strong growth” in the first half of the financial year, as it reaps benefits from its acquisition of Dutch firm Eurovet.

In the six months ended December 31 2012, group revenue increased by 20.4 per cent to £252.2m.

Underlying profit before taxation was up 46.9 per cent to £21m.

Sign up to our Business newsletter

Sign up to our Business newsletter

Dechra sees growing opportunities in the market for farm animal drugs, which it entered by buying Eurovet in 2012.

The integration of Eurovet is expected to create opportunities for its Dales manufacturing plant in Skipton, North Yorkshire

In a statement, the company said: “Our key strategic segments, European Pharmaceuticals and US Pharmaceuticals, have shown good revenue growth from our own licensed branded veterinary products and specialist pet diets.

“Contract manufacturing has seen double digit revenue growth and our services segment has seen robust revenue growth, and a modest improvement in operating margin over the corresponding period last year.”