Dechra first-half revenue up 11% to £332m

Chesire-based international veterinary drugs giant Dechra Pharmaceuticals said on Monday its revenue rose 10.9% to £332.4 million in the six months to December 31, 2021, while profit before tax rose to £53.4 million from £35.4 million.

“The group is pleased to report excellent growth in the first half of our financial year,” said Dechra.

“We outperformed a market that has seen strong growth as it continued to benefit, in our major international markets, from increased spending on pets as a result of COVID-19 restrictions.

“This growth was delivered across all product categories and all major therapeutic areas.

“Strategic progress has also been made through the acquisition of a number of complementary products and through progress in our product development pipeline.

“Towards the end of the period and at the start of the second half we have seen markets returning to more normalised, robust levels of historic growth.”

Interim dividend increased by 8% to 12p.

“Trading at the start of the second half remains strong, especially in our major markets which are returning to historic levels of growth as they normalise following the diminishing influence of COVID-19,” said Dechra in its outlook.

“Future prospects remain excellent as we strengthen the group’s infrastructure, continue to outperform markets and identify and deliver new strategic growth opportunities.”

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