Dechra Pharmaceuticals PLC Trading Update and Notice of Preliminary results (0834U)
July 10 2018 - 1:00AM
UK Regulatory
TIDMDPH
RNS Number : 0834U
Dechra Pharmaceuticals PLC
10 July 2018
Tuesday, 10 July 2018
Dechra(R) Pharmaceuticals PLC
(Dechra, Group, Company)
Trading Update
The Board of Dechra issues the following unaudited Trading
Update covering the Group's financial year ended 30 June 2018 (the
Period) ahead of the announcement of its preliminary financial
results.
Highlights
-- Trading in the year was strong and in line with management expectations
-- Reported Group revenue for the Period increased by c.14% at
constant exchange rate (CER) (c.13% at actual exchange rate
(AER))
-- European Pharmaceuticals revenue growth was c.11% at CER (AER c.14%)
-- North America Pharmaceuticals revenue growth was c.18% at CER (AER c.11%)
-- Acquisition of AST Farma, Le Vet in the EU and RxVet Limited in New Zealand
Ian Page, Chief Executive Officer, said:
"We are pleased to have delivered another year of strong revenue
growth. This has been driven from our core portfolio, good market
penetration and recent pipeline launches. In addition the
acquisition of the AST Farma, Le Vet and RxVet Limited businesses
have all grown strongly in the year, and since acquisition."
Operational Review
European Pharmaceuticals
In the Period, our European Pharmaceuticals segment reported
revenue increased by c.11% at CER (c.14% at AER). Excluding third
party contract manufacturing, treating Apex on a like for like
basis(1) , and excluding the acquisitions of RxVet and AST Farma /
Le Vet, revenues increased by c.4% at CER (c.7% at AER).
The integration of AST Farma, Le Vet and RxVet Limited, now
Dechra Veterinary Products New Zealand Limited, is proceeding well
and trading is in line with expectations.
North American Pharmaceuticals
In the Period, our North American segment reported revenue
increased by c.18% at CER (c.11% at AER). This is an excellent
performance, leveraging our recent investments in expanding our
commercial team.
Banking Facilities
The Group has obtained a six month extension of the availability
period of its GBP350m multi-currency term loan facility, from 30
June 2018 to 31 December 2018. The maturity date remains unchanged
at 31 December 2020.
Notice of Results
Dechra will announce its Preliminary Results for the Period on 3
September 2018.
(1) Apex was acquired in October 2016
Enquiries:
Dechra Pharmaceuticals PLC
Ian Page, Chief Executive Officer Office: +44 (0) 1606
814 730
Richard Cotton, Chief Financial Officer Office: +44 (0) 1606
e-mail: corporate.enquiries@dechra.com 814 730
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 Average: EUR 1.1286: GBP 1.0; USD 1.3465: GBP 1.0
FY2018 Closing: EUR 1.1286: GBP 1.0; USD 1.3157: GBP 1.0
FY2017 Average: EUR 1.1681: GBP 1.0; USD 1.2735: GBP 1.0
FY2017 Closing: EUR 1.1372: GBP 1.0; USD 1.2978: GBP 1.0
About Dechra
Dechra is an international specialist veterinary pharmaceuticals
and related 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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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