The Board of Dechra Pharmaceutical PLC (LON:DPH) issued the following unaudited Trading Update covering the Group’s financial year ended 30 June 2019 (the Period) ahead of the announcement of its preliminary financial results.
- Trading in the year was strong and in line with management expectations
- Reported Group revenue for the Period increased by c.17% at constant exchange rate (CER) (c.18% at actual exchange rate (AER))
- European Pharmaceuticals revenue growth was c.18% at CER (AER c.17%)
- North America Pharmaceuticals revenue growth was c.15% at CER (AER c.20%)
- Completed the acquisitions of Caledonian in New Zealand and Australia and Laboratorios Vencofarma Brasil Ltda (Venco) in Brazil
- Increased investment in Medical Ethics Pty Limited from 33% to 48% post year end
Ian Page, Chief Executive Officer, said:
“We are pleased to have delivered another year of strong revenue growth. This has been driven from our core portfolio, good market penetration and realisation of significant Le Vet revenue synergies. In addition the newly acquired Caledonian and Venco businesses have performed well.”
In the Period, our European Pharmaceuticals segment reported revenue increased by c.18% at CER (17% at AER). Excluding third party contract manufacturing, treating RX Vet and AST Farma/Le Vet on a like for like basis, and excluding the acquisitions of Caledonian and Venco, revenues increased by c.7% at CER (c.7% at AER). This was achieved through the robust performance of our core business with FAP growth accelerating and through the realisation of significant synergies from Le Vet.
The integration of AST Farma/Le Vet, Caledonian and Venco, is proceeding well and trading is in line with expectations.
North American Pharmaceuticals
In the Period, our North American segment reported revenue increased by c.15% at CER (c.20% at AER). This was driven by our companion animal portfolio (CAP) and represents strong outperformance of the market.
Notice of Results
Dechra will announce its Preliminary Results for the Period on Monday, 2 September 2019.