Dechra Pharmaceuticals increases its 2014 full year dividend by 10%

DividendMax Ltd.

Dechra Pharmaceuticals increases its 2014 full year dividend by 10%

Highlights

Approval of a major new equine product, Osphos®, with launch targeted for quarter one of 2015 financial year in the US and UK;

Good progress on the pipeline; dossier submitted for approval of a novel canine endocrine product in the US and EU;

All EU markets are showing growth, with the exception of the Netherlands;

Strong performance in the US driven by our key products growing well and the Ophthalmic range relaunch, partly offset by continuing supply issues;

Group revenue up by 1.6% (at constant exchange rate); positive momentum in the second half with revenue growth of 4.0%;

Completed the acquisition of the trade and assets of PSPC Inc., which will expand our US product portfolio;

Newly established Italian subsidiary opened in March 2014;

Significantly improved net debt position of £5.0 million (2013: £80.8 million) following divestment of the Services Segment;

Dividend of 15.40p, an increase of 10% over the previous year; and

Current trading in line with management expectations.

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