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Dechra underlying operating profit increased 11.6%

Staff writer ▼ | September 8, 2015
International veterinary pharmaceutical business Dechra issues its audited preliminary results. The company delivered underlying operating profit of £44.4 million, a growth of 11.6% compared to the previous year.
Dechra   Total revenue grew by 10% to £203.5 million
Total revenue grew by 10% to £203.5 million. We delivered good growth in CAP portfolio, and revenues increased due to product launches and the start of trading in new subsidiaries.

European Pharmaceuticals Segment revenue grew by 3.9% to £168.6 million with a strong performance in the UK offsetting lower revenue in Germany due to the reduced use of antibiotics and in Denmark due to competitive pressure. It is pleasing to report that Vetoryl bounced back following last year’s slower performance and grew by 22% due to trading in Italy as well as the roll out of new marketing campaign.

Revenue in North American Pharmaceuticals Segment grew by 59.9% to £34.9 million with the full year effect of the PSPC Inc. acquisition contributing to the growth. Key products also performed well with an increase of 20.0% for Vetoryl and 24% for DermaPet. Osphos, launched in August 2015, is also gaining momentum.

New territories, Italy, Canada and Poland, performed well and contributed 16% of the total revenue growth.

The board is proposing a final dividend of 11.82 pence per share (2014: 10.65 pence per share). Added to the interim dividend of 5.12 pence per share, this brings the total dividend for the financial year ended 30 June 2015 to 16.94 pence per share, representing 10.0% growth over the previous year.

Subject to shareholder approval at the Annual General Meeting to be held on 23 October 2015, the final dividend will be paid on 20 November 2015 to shareholders on the Register at October 30, 2015. The shares will be become ex-dividend on October 29, 2015.