Pre-Close Period Trading Upda

RNS Number : 2907Z

Dechra Pharmaceuticals PLC

12 January 2011

 



Issued by Citigate Dewe Rogerson Ltd, Birmingham

Date: Wednesday, 12 January 2011

Dechra^® Pharmaceuticals PLC

("Dechra" or the "Group")

Pre-close period Trading Update

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 2010 which are scheduled to be announced on Tuesday 22 February 2011.

Trading Update

Group revenue for the six months ended 31 December 2010 was approximately 3.9% ahead of the equivalent period last year.

The Group was strengthened during the period by the acquisitions of Genitrix® Limited on 30 November 2010 and DermaPet Inc (“DermaPet”) on 22 October 2010. The integration of both businesses into the Group is proceeding to plan.
 

European Pharmaceuticals

European Pharmaceuticals achieved revenue growth of approximately 5.6% compared to the same period last year with all key products showing growth.

US Pharmaceuticals

Revenue from US Pharmaceuticals was ahead of the corresponding period last year by 18.7%.  Previously reported supply issues with ophthalmic and otic products have been offset by revenues from DermaPet and increased sales of Vetoryl^®.

Product Development

Progress continues to be made on our product development strategy.  Three new novel pharmaceutical product opportunities are currently being evaluated, two of which have patent protection.

Services

Revenue from this segment for the six months ended 31 December 2010 was 3.0% up on the equivalent period in the prior year.  Continued tight cost control has enabled margins to be substantially held during a period in which trading has been, as expected, highly competitive.

Summary

The trading performance of the Group has continued to be resilient in testing economic conditions.  The two acquisitions made during the period are in line with our strategy to develop our international veterinary pharmaceuticals business.  They have increased the Group's product portfolio, particularly in the USA where, on the strength of the DermaPet acquisition, we have been able to significantly increase our sales and marketing capability.  The Board remains confident that the Group will continue to make positive progress throughout the remainder of the financial year.

Enquiries:
Ian Page, Chief Executive	Fiona Tooley, Director
Simon Evans, Group Finance Director	Keith Gabriel, Senior Account Manager
Dechra Pharmaceuticals PLC	Citigate Dewe Rogerson
Telephone: + 44 (0) 1782 771100	Telephone: [phone]
Mobile: [phone] (IP)	Mobile: [phone] (FT)
Mobile: [phone] (SE)	Mobile: [phone] (KG)

[e-mail]

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.

 

END

 

 

TSTDMGMMVMGGMZM