Dechra posts rise in half year profits

BRITAIN'S leading pet drugs firm Dechra Pharmaceuticals posted a 30 per cent jump in first-half adjusted pre-tax profit, helped by a strong performance from its specialist pet diets.

The company also gave a positive outlook for its future.

The company, which raised its interim dividend by 10 per cent to 3.30p, said although footfall in its veterinary practices suffered in January due to bad weather in the UK, it would not hurt its expectations for the second half.

Dechra has its Dales Pharmaceuticals manufacturing plant in Skipton, where it employs more than 200 people.

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"With the continued growth of diets within Europe, the ongoing introduction of new products, our increasing penetration of international markets and a robust product development pipeline, we remain optimistic for the group's future prospects," Dechra said in a statement.

In the six months to the end of December, the company reported an adjusted pre-tax profit of 13.7m, compared with 10.5m a year ago.

Revenue rose 6.7 per cent to 184.8m.

The company also reduced its net borrowings to 18.5m from 31.9m during the period.

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