News / Dechra figures show good progress
Dechra figures show good progress
Monday 9th November 2009
Dechra Pharmaceuticals, the veterinary services and drug development company, said it remained confident of meeting management expectations.
The group, which employs 206 people at its Dales operation in Skipton, North Yorkshire, reported that its pharmaceuticals division has continued to make good progress with first quarter revenue 11 per cent higher than the same period last year.
Dales won seven new products from third party customers during the period including a five-year supply agreement with its biggest contract customer.
Dales manufactures the majority of Dechra's own branded licensed pharmaceutical products but also generates 50 per cent of its revenues from third party manufacture, predominantly for human pharmaceutical companies - Dechra's only significant source of revenue not derived from the veterinary market.
Dales is currently in the process of seeking FDA approval to manufacture products for the US market.
And sales of Dechra's Vetory product into US distributors was $1.2m (£722,000). Sales into North American veterinary practices are reflecting month-on-month growth and in September were around $500,000 (£300,000) - a 25 per cent increase over sales achieved in June.
Dechra's services division achieved first quarter revenue growth of 3.3 per cent.
National Veterinary Services maintained its operating margin at the level achieved in the financial year ended June 30. In September, Dechra announced a 15 per cent increase in group revenue to £350m for the year end. Adjusted pre-tax profits were £23.4m, up from £16.9m.
