Interim Management Statement

RNS Number : 9301C

Dechra Pharmaceuticals PLC

09 May 2012

 

Issued by TooleyStreet Communications

Date: Wednesday, 9 May 2012

Dechra^® Pharmaceuticals PLC

Interim Management Statement

Dechra Pharmaceuticals PLC ("Dechra" or the "Group"), publishes its Interim Management Statement covering the period from 1 January 2012 to the date of this announcement.

Group revenue for the three months ended 31 March 2012 was 9.9% ahead of last year.  For the nine months ended 31 March 2012, Group revenue increased by 9.3% over the corresponding period in the prior year.

In the third quarter, our European products business revenue grew by 12.8% compared to the same period last year.  This growth rate was flattered slightly by pre-price rise purchasing in France.  For the nine months to 31 March 2012 revenue was ahead of last year by 11.3%.  Pharmaceuticals revenue growth was again strong at 19.8% for the quarter (17.8% for the nine months to 31 March 2012) whilst diets revenue demonstrated growth of 6.9% in the quarter (4.3% for the nine months ended 31 March 2012).

Revenue from US Pharmaceuticals was ahead of last year by 26.8% in the third quarter and by 36.2% for the nine months ended 31 March 2012.  The nine month figures include the full period benefit of DermaPet^® Inc. acquired in October 2010.

The Services segment increased revenue in the third quarter by 8.0% whilst revenue for the nine months ended 31 March 2012 was 7.6% ahead of the equivalent period last year.  Operating margin in the third quarter stabilised at the levels achieved in the six months ended 31 December 2011.

The following material transactions have occurred between 1 January 2012 and the date of this announcement:

On 31 January 2012 the Group acquired the worldwide rights (excluding Canada) to HY-50^®, an equine lameness product.  The total consideration was 8.03 million Canadian dollars (£5.1 million) which was paid in cash on completion.

On 5 April 2012 the Group announced the proposed acquisition of Eurovet Animal Health B.V. for a total consideration of 135 million Euros.  The acquisition is to be funded by a rights issue to raise £60 million and a new £120 million bank facility.  The transaction is expected to complete towards the end of May.

Current trading remains in line with the Board's expectations and the Directors remain confident that the Group will continue to make good strategic progress throughout the remainder of the financial year.

Enquiries:
Ian Page, Chief Executive	Fiona Tooley
Simon Evans, Group Finance Director	TooleyStreet Communications
Dechra Pharmaceuticals PLC	Mobile: [phone]
Tel: [phone]	Office:  [phone]
Mobile: [phone] (IP) Mobile: [phone] (SE)
www.dechra.com
[e-mail]

Trade Marks appear throughout this release in italics.  Dechra and the Dechra 'D' logo are registered Trade Marks of Dechra Pharmaceuticals PLC.

 

END

 

 

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