Trading Update

RNS Number : 3359V

Dechra Pharmaceuticals PLC

11 January 2012

 



Issued by Citigate Dewe Rogerson Ltd, Birmingham

Date:  Wednesday, 11 January 2012

Dechra^® Pharmaceuticals PLC

("Dechra" or the "Group")

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 2011 which are scheduled to be announced on Tuesday 21 February 2012.

Trading Update

Group revenue for the six months ended 31 December 2011 was approximately 9.1% ahead of the equivalent period last year.

European Pharmaceuticals

European Pharmaceuticals achieved revenue growth of approximately 10.5% (7.8% at constant currency) compared to the same period last year.  Branded pharmaceutical revenue increased by 13.8% at constant currency compared to the equivalent period last year; underlying growth has been enhanced by the benefit from the in-house marketing of Vetoryl^® and the Genitrix acquisition completed in December 2010.  Specialist pet diets revenue was flat at constant currency due to a reduction in export sales; this was offset by an increase in sales in our core markets.

US Pharmaceuticals

Revenue from US Pharmaceuticals was ahead of the corresponding period last year by 40.9% (44.6% at constant currency), with strong growth from DermaPet and increased sales of Vetoryl and Felimazole^®.  Previously reported supply issues with ophthalmic and otic products have continued.

Services

Revenue from this segment for the six months ended 31 December 2011 was 7.4% up on the equivalent period in the prior year.  Gross margin remains under pressure and was reduced in the period due to product mix and increased discounting in an increasingly competitive market.

Summary

Trading within our veterinary products segments, the main area of our strategic focus, continues to perform robustly.  Revenues in our services segment remain resilient; however, our revenue increase in this area has been offset by a decrease in margin.  Overall the Group has performed to management's expectation within the period.

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

[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

 

 

TSTBMMRTMBTBBMT