StockMarketWire.com - Veterinary drugs company Dechra Pharmaceuticals reported a jump in profit as revenue was boosted by strong demand and acquisitions in the first half.

For the six months ended 31 December 2020, pre-tax profit jumped 81.5% to £35.4 million year-on-year, and revenue increased by 21.8% to £299.8 million.

The increase in profit reflected 'the strong trading performance and impact of acquisitions during the current and prior period,' the company said.

The product acquisitions of Osurnia and Mirataz were "performing ahead of expectations,' it added.

The company declared an interim dividend of 11.11 pence per share, representing a growth of 8.0% on the prior period.

Looking ahead, it said that although it was starting to see the pre-Brexit inventory build unwind and, therefore, expecting the balance of trading to be first half weighted, the full-year outlookr remains positive and in line with its January trading update.

'We expect the strong favourable market conditions to remain, our recent acquisitions to perform well and our supply chain improvement to continue,' Dechra added.







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