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: +44 (0) 121 362 4035 |
Mobile: +44 (0) 777 564 2222 (IP) | Mobile: +44 (0) 778 570 3523 |
Mobile: +44 (0) 777 564 2220 (SE) |
|
corporate.enquiries@dechra.com
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.
