Dechra sees half-year sales soar pass £200m
Animal medicine maker Dechra, which has a site in Shropshire, saw half-year revenues soar past £200 million.
The firm, which has a key operation at Sansaw Business Park near Shrewsbury, has revealed a rise in income for the six months to December 31 2018 from £194.1 million to £231.4 million.
Meanwhile, underlying pre-tax profits were up from £44.3 million to £54.2 million.
Dechra, which makes pills and medicines for cats, dogs and horses, said trading in the period was strong with above market growth continuing in both the European and North American pharmaceuticals segments.
The company also continued its international expansion with the small bolt-on acquisition of Caledonian to strengthen its equine portfolio in Australasia and completed a more significant move into Latin America through the acquisition of a Brazilian company.
It said the acquisitions of AST Farma, Le Vet and RxVet, made in the prior year, are performing well.
Looking ahead, Dechra added that trading across the group has commenced well in the second half, with particularly strong growth continuing in the US.
It added despite the uncertainty surrounding Brexit, it remains confident in the outlook for the remainder of the financial year.
It revealed it is still preparing for a no-deal Brexit at the end of March.
CEO Ian Page said: "Trading across the group has commenced well in the second half, with particularly strong growth continuing in the USA.
"Material synergies from the AST Farma and Le Vet acquisition will increase in the second half and initial indications are that our recent acquisition, Venco, is performing to our expectations.”
