Dechra's performance meets expectations
Animal medicine maker Dechra said trading in the first half of the year was in line with its expectations, with both its Europe and North America segments performing well.
The firm, which has a key operation at Sansaw Business Park near Shrewsbury, has revealed net revenue for the six months from July 1 to December 31 increased by approximately 18 per cent at constant exchange rates.
Total European Pharmaceuticals segment reported net revenue increased by roughly 18 per cent at constant currency, while the North American segment also saw net revenue grow by about 18 per cent at constant currency.
Growth in the US was driven mainly by the expansion of its US direct sales force in 2018, which continued to generate significant sales growth, and was further helped by the temporary absence from the market of a competitor product to Zycortal, the company said.
The acquisition of Venco, completed on December 17, was expected to contribute to revenue and earnings in the second half of the year as the integration plan got underway, the company added.
"We are pleased with the group's trading in the period; Dechra continues to deliver above market revenue growth in our existing business and in our acquisitions, in line with the board's expectations," said chief executive office Ian Page.
Dechra's interim results will be announced on February 25.
