Dechra warns on first quarter export and US revenues

17th Oct 2013 14:05

Dechra, the FTSE 250 specialist veterinary pharmaceuticals business, on Thursday revealed that first-quarter export revenues were lower than the previous year, which more than offset the 'robust' growth of four per cent seen within its own sales and marketing organisations.In its European Pharmaceuticals segment, the group increased revenues by around 6% in the first quarter, but in the US revenue fell by 5% versus the same period of last year (approximately down by 7% in constant currencies). After adjusting for the adverse impact of the previously reported Animax supply issue, the remainder of its portfolio performed strongly in the first quarter, with reported revenues growing by approximately 12% (approximately 9% at constant currenies).In a statement the company said: "Group trading in the first quarter was in line with management expectations. We are in a strong financial position to deliver our strategy by maximising our existing business, building and delivering our specialist veterinary pharmaceutical pipeline, and expanding geographically." NR