Dechra Pharmaceuticals shrugs off weak economy

6th Sep 2011 14:46

The reluctance of pet-owners' to neglect their animals despite tough economic conditions helped Dechra Pharmaceuticals post a rise in profits in the year to 30 June.Pre-tax profits climbed to £18.5m from £17.7m the previous year on revenues up to £389.2m from £369.4m. The full-year dividend rises to 12.1o from 10.5p."Although footfall through veterinary practices has declined and the general economic climate remains uncertain we are continuing to demonstrate solid growth in markets in which we trade," the company said. "Our branded product range, the focus of our key strategic objective, continues to grow strongly."Dechra's brands include DermaPet, a pet dermatological business acquired in October and Genitrix, which was acquired in December and makes canine epilepsy treatments.