Dechra hikes dividend as full-year revenues and earnings grow

2nd Sep 2019 11:32

(Sharecast News) - Veterinary pharmaceuticals outfit Dechra upped its full-year dividend on Monday on the back of improved earnings and revenues following some recent acquisitions.
Dechra raised its dividend 23.9% to 31.6p after its earnings before interest, tax, depreciation and amortisation rose by 27.7% to £137.2m for the year ended 30 June, while revenues increased by 17.5% to £481.8m despite supply chain woes at both its own sites and those of contracted manufacturers.

Existing businesses reported an 8.9% bump up in revenues to £447.6m and recently acquired businesses, such as AST Farma, Le Vet and Venco, contributed a total of £34.2m to Dechra's full-year revenue figure.

Dechra's underlying EBIT margin grew 2000 basis points to 26.4%.

Chief executive Ian Page, who stated the group's outlook remained in line with management expectations, said: "The group has delivered another strong performance throughout the financial year.

"We have continued to outperform in almost all markets in which we operate and strategically it has also been an excellent year."

As of 1245 BST, Dechra shares were up 0.73% at 3,022p.