Vet product firm Dechra sees North American sales drive revenue growth

Veterinary product manufacturer Dechra Pharmaceuticals PLC saw its revenue leap in the three months to September 30, with growth driven by a sharp increase in its North American business.

The Cheshire-based firm grew its total revenue during the quarter by 21% at a constant exchange rate (CER), with that figure dipping to 13% when considered at an actual exchange rate (AER).

In its North American Pharmaceuticals arm, total revenue saw year-on-year CER growth of 86%, with the figure rising to 92% at AER.

Meanwhile, in its European business Dechra increased revenues by 11% at CER (or 0% at AER), attributing the growth the performance of its Companion Animal Products offering.

Conversely, the firm reported that sales in its Diet range declined.

Sales in the firm’s DermaPet skincare range reached a moving annual total of $20m, which led to the final $5m payment of an acquisition agreement signed in 2010.

Earlier this week, Dechra announced the acquisition of 83.99% of the share capital in Croatian pharmaceutical company Genera, with the cost of that transaction amounting to €36.6m.