Dechra Pharmaceuticals PLC Trading Update & Notice of Half-Year Results (2872B)
January 09 2018 - 2:00AM
UK Regulatory
TIDMDPH
RNS Number : 2872B
Dechra Pharmaceuticals PLC
09 January 2018
Tuesday, 9 January 2018
Dechra(R) Pharmaceuticals PLC
(Dechra, Group, Company)
Trading Update
The Board of Dechra issues the following unaudited Trading
Update covering the half year reporting period from 1 July to 31
December 2017 (the Period).
Highlights
-- Trading in the Period was strong and in line with management expectations
-- Reported Group revenue for the Period increased by c.10.5% at
constant exchange rate (CER) (c.11.5% at actual exchange rate
(AER))
-- European Pharmaceuticals revenue growth was c.5.5% at CER (AER c.8.5%)
-- North America Pharmaceuticals revenue growth was c.20.0% at CER (AER c.17.5%)
-- Small bolt on acquisition of RxVet Limited, New Zealand, was completed.
Operational Review
European Pharmaceuticals
In the Period, our European Pharmaceuticals segment reported
revenue increased by c.5.5% at CER (c.8.5% at AER). Excluding third
party contract manufacturing, and treating Apex on a like for like
basis(1) , revenues increased by c.4.0% at CER (c.7.0% at AER).
(1) Apex was acquired in October 2016
North American Pharmaceuticals
In the Period, our North American segment reported revenue
increased by c.20.0% at CER (c.17.5% at AER).
Pipeline Delivery
New product registrations were achieved in the Period. In
European Pharmaceuticals, this included Avishield(R) IB H120, our
second EU registered poultry vaccine. A number of minor
registrations were achieved in our International division following
its formation in July 2017.
In North America we have now launched all the dosage sizes of
Amoxi-Clav tablets in the US, and Vetoryl(R) and Osphos(R) in
Mexico.
Acquisition
In December 2017 we completed the acquisition of RxVet Limited,
a small CAP business in New Zealand. RxVet have been Dechra's
distributor since 2010, with revenue in the year to March 2017 of
NZ$1.4 million; sales of Dechra products account for approximately
half of this. The former owner managers will remain with the
business and help to increase market share and build Dechra's
presence in the region.
US tax
Following the passing into law of the Tax Cuts and Jobs Act (the
Act) in USA, the Group is in the process of reviewing and
quantifying the effect of the Act on Dechra. Overall, an initial
provisional assessment indicates that the effect is expected to be
modestly favourable on an ongoing underlying basis. A material
one-off non-cash non-underlying credit will arise due to the
revaluation of Deferred Tax balances. Further details will be
provided with the announcement of the Interim Results.
Notice of Results
Dechra will announce its Interim Results for the Period on 26
February 2018.
Enquiries:
Dechra Pharmaceuticals PLC
Ian Page, Chief Executive Officer Office: +44 (0) 1606
814 730
Richard Cotton, Chief Financial Office: +44 (0) 1606
Officer 814 730
e-mail: corporate.enquiries@dechra.com
TooleyStreet Communications
Ltd
Fiona Tooley, Director Mobile: +44 (0) 7785
e-mail: fiona@tooleystreet.com 703 523
Office: +44 (0) 121
309 0099
Notes:
1) Foreign Exchange Rates:
FY2018 H1 Average: EUR 1.1205: GBP 1.0; USD 1.3176: GBP 1.0
FY2018 H1 Closing: EUR 1.1271: GBP 1.0; USD 1.3517: GBP 1.0
FY2017 H1 Average: EUR 1.1698: GBP 1.0; USD 1.2886: GBP 1.0
FY2017 H1 Closing: EUR 1.1680: GBP 1.0; USD 1.2311: GBP 1.0
FY2017 Average: EUR 1.1681: GBP 1.0; USD 1.2735: GBP 1.0
About Dechra
Dechra is an international specialist veterinary pharmaceuticals
and relates products business. Our expertise is in the development,
manufacture and sales and marketing of high quality products
exclusively for veterinarians worldwide. Dechra's business is
unique as the majority of its products are used to treat medical
conditions for which there is no other effective solution or have a
clinical or dosing advantage over competitor products.
For more information, please visit: www.dechra.com
Stock Code: Full Listing (Pharmaceuticals): DPH
LEI: 213800J4UVB5OWG8VX82
Trademarks
Dechra and the Dechra "D" logo are registered trademarks of
Dechra Pharmaceuticals PLC.
Forward Looking Statement
This document may contain certain forward-looking statements.
The forward-looking statements reflect the knowledge and
information available to the Company during the preparation and up
to the publication of this document. By their very nature, these
statements depend upon circumstances and relate to events that may
occur in the future thereby involve a degree of uncertainty.
Therefore, nothing in this document should be construed as a profit
forecast by the Company.
Market Abuse Regulation (MAR)
The information contained within this announcement may
constitute inside information stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement via the Regulatory Information Service, this inside
information is now considered to be in the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTBPMMTMBAMTBP
(END) Dow Jones Newswires
January 09, 2018 02:00 ET (07:00 GMT)
Dechra Pharmaceuticals (LSE:DPH)
Historical Stock Chart
From Apr 2024 to May 2024
Dechra Pharmaceuticals (LSE:DPH)
Historical Stock Chart
From May 2023 to May 2024