Just over a month after Dechra Pharmaceuticals had a check-up with investors, the veterinary healthcare group issued a full-year trading update yesterday (Alex Ralph writes). If nothing else, that meant there were few surprises in the latest numbers that were presented to the City.
Dechra said, for example, that group revenue was up by 7 per cent at constant currency rates in the year to the end of June. Revenue from European pharmaceuticals rose by 8 per cent and in North America, its other core market, by about 5 per cent. Analysts reckoned that represented group revenue of about £516 million and that it indicated sales had contracted about 10 per cent in the past two months.
But to be forewarned is to be forearmed.
