Revenues are on the rise at Dechra Pharmaceuticals although the veterinary healthcare company is still experiencing supply issues in the US.
Group revenue for the year ended June 30th was around 9.3% ahead of the prior year. On a like-for-like basis, which excludes the acquisition of Eurovet Animal Health in May of this year, revenue was 7.5% ahead.
The European division saw revenue grow 16.9% in the full year although on a like-for-like basis this rise falls to 9%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In the US revenues gained an impressive 24.7% over 2010/2011 but Dechra says: "the overall ... performance was again impacted by continued supply issues with our ophthalmic and otic range."
The firm suggests that when it publishes its final full year numbers in September the results will be "in line with expectations".
The stock was unchanged on the news, sitting at 499.3p at 9:24.
BS
-
Banks given additional 72 hours to investigate suspicious paymentsNew rules will allow banks to pause suspicious payments for longer, giving them time to investigate cases of potential fraud
-
What financial support can you get if you are suffering with long-term illness?Health is wealth and more important than any material riches. But too often, long-term illness brings financial worries of its own. What financial support can you get if you are ill?
