Dechra Pharmaceuticals' interim revenues and profits improve

Drugmaker Dechra Pharmaceuticals said on Monday that reported group revenues and operating profits had both increased throughout the six months ended 31 December.

Reported interim group revenues were up 21.8% at a constant exchange rate, while reported operating profits increased by 74.2% as a result of the company's strong trading performance.

Underlying operating profits were 32.7% higher as operating margins improving by 240 basis points to 27.0%.

European pharmaceutical revenues grew 21.7%, while across the pond, North American pharmaceuticals income improved 21.9% year-on-year.

Dechra also reported underlying diluted earnings per share growth of 24.7% to 54.28 pence and increased its interim dividend by 8.0% to 11.11p per share.

Chief executive Ian Page said: "Despite 2020 being one of the most challenging years in Dechra's history, it is pleasing to report that the calendar year ended strongly resulting in an excellent performance in the first half of our financial year."

As of 0840 GMT, Dechra shares were down 2.17% at 3,533.52p.