Dechra reports “strong” trading, shares rise

Dechra reports “strong” trading, shares rise

Dechra Pharmaceuticals (LON: DPH) has reported an 18% rise in revenue in the six months to 31 December.

The veterinary drugmaker said in an update on Monday that trading had been “strong” for the second half of 2018.

“We are pleased with the group’s trading in the period. Dechra continues to deliver above market revenue growth in our existing business and in our acquisitions, in line with the board’s expectations,” said Ian Page, the chief executive.

Shares edged up by 0.8% after the announcement. They are currently trading +1.05% at 2.306,00 (1349GMT). 

The company also said that it expects Brexit contingency plans to be completed before the UK will leave the EU on 29 March.

When the group announced plans to carry out contingency plans in September, which would cost around £2 million, shares in the group tumbled over 20%.