Dechra reports first-half profit jump

Dechra Pharmaceuticals has today (February 25th) reported "solid" results for the first half of its financial year.

The veterinary drugs maker said its pre-tax profits for the six months to the end of December jumped to 10.33 million pounds, from 5.83 million pounds in the equivalent period of 2013.

On a constant exchange rate basis, this is an increase of 14.1 percent year on year, while the figure is one-fifth higher on a reported basis.

In addition, Dechra's underlying operating profit was up to 22.3 million pounds, which includes the benefits of a stock release worth one million pounds. Total revenues advanced to 95.9 million pounds, from 92 million pounds in the previous year.

Ian Page, the company's chief executive, said: "We continue to make progress in all four aspects of our strategy and we believe we are well positioned to continue to strengthen our position within the global animal health markets and to deliver future growth."