Source - SMW
International veterinary pharmaceutical business Dechra reports a strong financial performance for the year to the end of June.

 Consolidated revenue increased by 21.7% (at CER) to £247.6m and underlying operating profit rose by 20.9% to £52,9m. Undelying EBITDA rose by 22.7% to £58.0m. 

Chief executive Ian Page said: "With three acquisitions, pipeline product launches, successful trading in our new subsidiaries and solid growth in our focus portfolio, Dechra has delivered another strong performance in the 2016 financial year."

Looking ahead, the group said: "Although we anticipate a degree of uncertainty following Brexit, the business is naturally hedged by its geographical spread and international sourcing. Any significant downturn in the UK economy may impinge on growth rates; however, we do not anticipate any material effect on the Group.

"Good progress has been made on the integration of the acquisitions. Our pipeline has also been strengthened through both new internally generated ideas and the integration of acquired development programmes. We have continued to invest in people and the infrastructure to ensure we maximise revenues and execute our strategy successfully.

"The Group continues to deliver growth and identify opportunities across all aspects of our strategy; we therefore continue to look forward to the future with confidence."