Flash note: Trading performance overcomes currency winds
Dechra Pharmaceuticals’ medium-term outlook is underpinned by a sharpened portfolio focus, new product launches and geographic expansion. Solid performances on these fronts in FY15 have overcome the headwinds of a weaker euro and the continuing decline of antibiotic use in Europe. Revenue growth was up c 5.0% (c 10.0% CER), driven by the core CAP products in Europe, coupled with the US product launches, which more than offset continuing weakness in FAP and currency movements.Dechra Pharmaceuticals is engaged in the veterinary pharmaceuticals and related products business. Co. has three reportable segments: European Pharmaceuticals, manufactures and markets Companion Animal, Equine and Food producing Animal Products and also includes third party manufacturing; North American Pharmaceuticals, which consists of Dechra Veterinary Products US, Putney, Dechra Veterinary Products Canada, and Dechra-Brovel, which sells Companion Animal, Equine Products and Food producing Animal Products in those territories; and Pharmaceuticals Research and Development, which includes all of Co.'s pharmaceutical research and development activities.
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