Dechra no dog as revenues rise

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%.

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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