Growth in sales for Dechra Pharmaceuticals
Animal medicine maker Dechra Pharmaceuticals, which has a site near Shrewsbury, has reported 6.8 per cent growth in annual revenue to £515.1 million.
Chief executive Ian Page said: "I am pleased to report that Dechra has remained resilient throughout a challenging year. This is testament to our strategy, the strength of our product portfolio and through the innovation and dedication of our people."
Operating profit increased 33.6 per cent to £52.2 million.
Dechra has increased its full year dividend by 8.5 per cent to 34.29p per share.
Mr Page said that throughout the Covid-19 pandemic the group had successfully managed to remain operational.
"We took the decision that we would not furlough any of our employees and therefore did not take advantage of, or utilise, any Government assistance in any country. There is no doubt that this has provided job security to our people which has enhanced their loyalty and commitment.
"All manufacturing, logistics and front line laboratories have remained open and operational throughout the period and our employees in these areas have been awarded a one-off bonus payment; all other employees have functionally operated from home. Many of our sales teams created new and innovative ways to communicate with and support our veterinary customer base," he explained.
Trading in the first few weeks of the new financial year has been encouraging, but Dechra says the underlying Covid-19 affected longer term trend cannot yet be ascertained as there is a degree of correction in current sales as markets, such as the UK, return to growth and wholesaler stocks return to more normalised levels.
