Animal products maker Dechra marks anniversary with double-digit growth
Veterinary pharmaceuticals firm Dechra has marked the end of its 20th year in business with double-digit growth in revenue and profit.
The company, which has an important operation at Sansaw near Shrewsbury, boosted revenue by 45.1 per cent on the back of fresh acquisitions.
That meant it raked in sales of £359.3 million in the 12 months to June 30 as it celebrated two decades since its launch.
Underlying earnings spiralled by 52.1 per cent, reaching £88.2 million for the period.
"As we complete our 20th year since the inception of the company, we are pleased to report that the group has delivered another strong financial performance," said chief executive Ian Page.
"This has been driven by growth from our existing portfolio, good market penetration from recent pipeline launches and the pleasing performance of the acquisitions made in the preceding financial year.
"This has resulted in strong cash generation and deleveraging of our balance sheet.
He added: "Furthermore, we have completed two acquisitions within the 2017 financial year, the first of which extends our geographical footprint into Australia and New Zealand and the second is a minority stake together with the global marketing rights in a business that may transform our food producing animal product business in the long term through the development of a novel approach to farm animal pain relief."
Dechra has been boosted by a recent string of acquisitions, which were in part responsible for the accelerating sales in the first half of the year.
The figures took into account the £34 million takeover of Apex Laboratories near Sydney in Australia, which was agreed last October and has now begun to impact on the results.
They also include the 33 per cent stake Dechra took in the owner of Animal Ethics, another Australian company which specialises in ethical pain relief for animals, in March.
Cheshire-headquartered Dechra's regulatory team at Sansaw Business Park near Hadnall, north of Shrewsbury, works on getting new products into the UK market.
The Shropshire base for the firm, which employs about 20 people, also has a marketing operation.
