Trading Update

RNS Number : 8362F

Dechra Pharmaceuticals PLC

30 April 2014

 

Wednesday, 30 April 2014

Dechra Pharmaceuticals PLC (Dechra or the Group) Trading Update The Board of Dechra issues the following unaudited Interim Management Statement covering the period from 1 January 2014 to the date of this announcement.  The financial reporting period covers the third quarter ended 31 March 2014. Overview Group revenue for the third quarter ended 31 March 2014 was 4.7% ahead of last year (4.9% at constant currency).  For the nine months ended 31 March 2014, revenue growth was 2.8% at reported currency (1.3% at constant currency). European Pharmaceuticals In the third quarter our European Pharmaceuticals Segment increased revenues by 3.3% (2.9% at constant currency) against a comparator period impacted by poor weather.  Revenues for the nine months to 31 March 2014 grew by 2.8% (0.8% at constant currency). Sales of Companion Animal Products (CAP) in the quarter grew by approximately 9% at constant currency. Food Producing Animal Products (FAP) sales were flat; improved performance of equine products offset the decrease of large animal antibiotics products which declined by approximately 5% in the quarter.   US Pharmaceuticals Total reported US revenue was up by 16.3% on the same period last year (22.4% at constant currency).  Revenue growth for the nine months to 31 March 2014 was 3.2% (6.0% at constant currency). Momentum in our endocrinology and dermatology therapeutic areas in the US remains strong, with our key products Vetoryl®, and Felimazole® performing above our expectations. Geographic expansion The opening of our Italian subsidiary, which commenced trading on 1 March 2014, marks the latest milestone of our geographic expansion strategy.  We also remain on track to open our Canadian subsidiary during Autumn 2014.  By establishing our own brand within these markets, we should deliver additional margin and growth in the future. Pipeline delivery We continue to make significant progress on our pipeline and we anticipate being able to give an update prior to the year end. Summary Overall Group trading in the third quarter was in line with management expectations.  We are making good progress with our key strategic growth drivers.

Enquiries:
Dechra Pharmaceuticals PLC
Ian Page, Chief Executive Officer	Mobile: [phone]
Anne-Francoise Nesmes, Chief Financial Officer e-mail: [e-mail]	Mobile: [phone] Office: [phone]
TooleyStreet Communications Ltd
Fiona Tooley, Director e-mail: [e-mail]	Office: [phone] Mobile: [phone]

About Dechra Dechra is an international specialist veterinary pharmaceuticals and related products business.  Its expertise is in the development, manufacturing and sales and marketing of high quality products exclusively for veterinarians worldwide.  Dechra's business is unique as the majority of its products are used to treat medical conditions for which there is no other effective solution or have a clinical or dosing advantage over competitor products.  For more information please visit: www.dechra.com or [e-mail] Stock Code: Full Listing (Pharmaceuticals): DPH Trademarks Dechra and the Dechra "D" logo are registered trademarks of Dechra Pharmaceuticals PLC

 

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