StockMarketWire.com - Dechra Pharmaceuticals, which develops drugs for animals, reported Monday first-half results that met its expectations, led by strong growth in its North American division.

For the six months ended 31 December, underlying profit before taxation increased by 22.3% to £54.2m, and group revenue rose 19.1% to £231.4m

Revenue in EU Pharmaceuticals grew by 18.9% to £142.8 million, while revenue in NA pharmaceuticals grew 19.3% to £88.6m.

Underlying operating profit in EU Pharmaceuticals increased by 34.7% to £45.8m, driven by existing and acquisition businesses.

The company proposed an interim dividend of 9.5p per share, up 29.6% compared to the prior year.

'Trading across the group has commenced well in the second half, with particularly strong growth continuing in the US,' the company saied.

'Material synergies from the AST Farma and Le Vet acquisition will increase in the second half and initial indications are that our recent acquisition, Venco, is performing to our expectations.'

'Despite the uncertainty surrounding Brexit, we remain confident in the outlook for the remainder of the financial year.'

At 4:25pm: [LON:DPH] Dechra Pharmaceuticals PLC share price was +31p at 2529p



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