Chesire-based veterinary drugs giant Dechra Pharmaceuticals said on Monday its revenue rose 21.8% to £299.8 million and reported profit before tax soared more than 80% to £35.4 million in the six months ended December 31, 2020.

Interim dividend has been increased by 8% to 11.11p per share.

In its outlook, Dechra said: “Trading in the second half remains robust, although we are starting to see the pre-Brexit inventory build unwind and, therefore, we expect the balance of trading to be first half weighted.

“Overall the outlook for the full year remains positive and in line with our January trading update.

“We expect the strong favourable market conditions to remain, our recent acquisitions to perform well and our supply chain improvement to continue.”

Dechra CEO Ian Page said: “Despite 2020 being one of the most challenging years in Dechra’s history, it is pleasing to report that the calendar year ended strongly resulting in an excellent performance in the first half of our financial year.”