StockMarketWire.com - Veterinary drugs group Dechra Pharmaceuticals reported an 81% rise in first-half profit, underpinned by bumper sales of treatments for pets and horses.

Pre-tax profit for the year through June increased to £74.0 million, up from £40.9 million year-on-year, as revenue jumped 21% to £608.0 million.

Underlying operating profit rose 29% to £162.2 million.

Dechra declared a full-year dividend of 40.5p per share, up 18% year-on-year.

The company said all of its product categories delivered growth, though performance was exceptional in the companion animal products and equine categories.

'Dechra has continued to outperform a robust market throughout the Covid-19 pandemic affected financial year,' chief executive Ian Page said.

'As we start the new financial year trading remains strong with the momentum and market penetration seen in the second half of the prior financial year continuing.' Story provided by StockMarketWire.com