Dechra Pharmaceuticals FY revenue to beat market expectations
Dechra Pharmaceuticals said on Tuesday that full-year revenue was set to be ahead of consensus expectations, as it continues to benefit from strong market fundamentals and lower costs.
In a brief update on trading, the company also said it was benefiting from the completion of the UK pre-Brexit inventory unwind and further easing of lockdown restrictions. As a result, it is increasingly confident that it will continue to perform strongly for the rest of the financial year.
"Consequently, the group now expects full year revenue to be ahead of current consensus expectations, with trading likely to be distributed more evenly than previously guided between the first and second halves of the financial year," it said.
Dechra, which specialises in veterinary pharmaceuticals, will provide further details on its financial results for the year ending 30 June 2021 in a pre-close trading statement next month.