Issued by Citigate Dewe Rogerson Ltd, Birmingham
Date: Wednesday, 11 January 2012
The Board of Dechra issues the following trading update ahead of the publication of the Group's Half-Year Results for the six months ended 31 December 2011 which are scheduled to be announced on Tuesday 21 February 2012.
Trading Update
Group revenue for the six months ended 31 December 2011 was
approximately 9.1%
ahead of the equivalent period last year.
European Pharmaceuticals achieved revenue growth of
approximately 10.5% (7.8% at constant currency) compared to
the same period last year. Branded pharmaceutical revenue
increased by 13.8% at constant currency compared to the
equivalent period last
year; underlying growth has been enhanced by the benefit from
the in-house marketing of Vetoryl® and the
Genitrix acquisition completed in December 2010. Specialist
pet diets revenue was flat at constant currency due to a
reduction in export sales; this was offset by an increase in
sales in our core markets.
Revenue from US Pharmaceuticals was ahead of the
corresponding period last year by
40.9% (44.6% at constant currency), with strong growth from
DermaPet and increased sales of Vetoryl and
Felimazole®. Previously reported supply issues
with ophthalmic and otic products have continued.
Revenue from this segment for the six months ended 31
December 2011 was 7.4% up on the equivalent period in the
prior year. Gross margin remains under pressure and
was reduced in the period due to product mix and increased
discounting in an increasingly competitive market.
Trading within our veterinary products segments, the main
area of our strategic focus, continues to perform robustly.
Revenues in our services segment remain resilient;
however, our revenue increase in this area has been offset by
a decrease in margin. Overall the Group has performed to
management's expectation within the period.
Enquiries: | |
Ian Page, Chief Executive | |
Simon Evans, Group Finance Director | Fiona Tooley, Director |
Dechra Pharmaceuticals PLC | Citigate Dewe Rogerson |
Telephone: + 44 (0) 1782 771100 | Telephone: +44 (0) 121 362 4035 |
Mobile: +44 (0) 777 564 2222 (IP) | Mobile: +44 (0) 778 570 3523 |
Mobile: +44 (0) 777 564 2220 (SE) |
corporate.enquiries@dechra.com
Ticker: Sector: Full Listing (Pharmaceuticals): DPH
Trademarks appear throughout this release in italics. Dechra
and the Dechra 'D' logo are registered Trademarks of Dechra
Pharmaceuticals PLC.
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Trading Update |