Trading Update

RNS Number : 0779K

Dechra Pharmaceuticals PLC

11 July 2011

 



Issued by Citigate Dewe Rogerson Ltd, Birmingham

Date: Monday 11 July 2011

Dechra^® Pharmaceuticals PLC

("Dechra" or "The Group")

Trading Update

The Board of Dechra issues the following update ahead of the publication of the Group's Preliminary Results for the year ended 30 June 2011 which will be announced on Tuesday 6 September 2011.

Group revenue for the year ended 30 June 2011 was approximately 5.1% ahead of the equivalent period last year. Acquisitions contributed 1.8% of this figure whilst foreign currency movements had a negative impact of 0.5%.

European Pharmaceuticals

Revenue from this division increased by approximately 5.0% compared to last year.  As indicated in our Interim Management Statement dated 10 May 2011, pharmaceuticals performed robustly (including the Genitrix® brands acquired in December 2010) but growth in diets revenue slowed in the second half of the financial year.

US Pharmaceuticals

Overall revenue was approximately 48.7% higher than last year.  This figure includes sales from the DermaPet® acquisition completed in October 2010. DermaPet is now fully integrated into our existing US operations with the expected synergies being realised.

Services

Revenue grew by approximately 3.7% compared to last year with operating margin being broadly consistent with that achieved in the 2010 financial year.

Net Borrowings

As expected, cash flow in the second half of the financial year was strong leading to a substantial reduction in net borrowings compared to 31 December 2010.

Summary

Although economic conditions have had an impact on our markets, the Group has performed in line with our expectations and made solid progress in the financial year.  We remain confident about our future.

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)
www.dechra.com	Ticker: 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

 

 

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