Solid start for Dechra; shares up 2 per cent

The company, which manufactures pharmaceuticals in Skipton, said revenues rose 11.4 per cent in the six months ending December 2014, although these were against a soft period the previous year.

Dechra said underlying operating profits rose 11.7 per cent at constant exchange rate.

Ian Page, chief executive, said: “Our focus on executing our strategy is delivering value to shareholders.

“Our core portfolio demonstrates growth, our product pipeline is delivering results and our global expansion is progressing well.”

Shares rose 2 per cent in early trading to 927p, giving the group a market capitalisation of £815m.