Dechra sees profits rise in ‘momentous year’

DECHRA Pharmaceuticals today revealed that its total revenue and profits rose in the last financial year.

In the year ended June 30, the veterinary pharmaceuticals company’s total revenue was £522.4m, compared with £440m the year before. Total underlying profit before tax was £44.6m, compared with £32.9m in the previous year.

The European pharmaceuticals division continued “to show progress” and achieved sales of £168.7m, an

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increase of 66.3 per cent, at constant exchange rates (CER), over the previous year.

Revenues in the US totalled £20.5m, which was growth of 4.7 per cent (at CER) compared with the previous year.

Ian Page, Dechra’s chief executive, said today: “Strategically it has been a momentous year with the successful integration of Eurovet, acquired in May 2012, and with the transformational effect of the £87.5m divestment of the services businesses. Dechra is now entirely focused on developing, manufacturing and marketing high margin, cash generative specialist veterinary pharmaceuticals and related products for global markets.”

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, which employs 215 people.

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