TOP NEWS: Dechra Pharmaceuticals profit grows on more spending on pets

(Alliance News) - Dechra Pharmaceuticals PLC on Monday reported higher half-year profit and ...

Alliance News 21 February, 2022 | 9:11AM
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(Alliance News) - Dechra Pharmaceuticals PLC on Monday reported higher half-year profit and revenue amid increased consumer spending on pets.

For the six months that ended December 31, Dechra posted pretax profit of GBP53.4 million, up 51% from GBP35.4 million a year before. This was on revenue growth of 7.5% to GBP322.4 million from GBP299.8 million.

Dechra credited this to more spending on pets during Covid-19 restrictions.

"This growth was delivered across all product categories and all major therapeutic areas," the company noted.

The Northwich, Cheshire-based firm declared an interim dividend of 12.00 pence, up 8.1% from 11.11p.

Looking ahead, Dechra said trading at the start of the second half remains strong, especially in major markets which are returning to "historic levels" of growth.

"Future prospects remain excellent as we strengthen the group's infrastructure, continue to outperform markets and identify and deliver new strategic growth opportunities," said Chief Executive Ian Page.

Shares in Dechra Pharmaceuticals were down 0.5% at 3,766.00 pence each on Monday morning in London.

By Abby Amoakuh;

Copyright 2022 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Dechra Pharmaceuticals PLC 3,822.00 -

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