Profits grow at Dechra Pharmaceuticals

7th Sep 2010 08:44

Veterinary products group Dechra Pharmaceuticals posted a 10% rise in annual profit and hiked its dividend 18% as demand for its products strengthened.Pre-tax profit rose to £17.7m in the year ended 30 June 2010 from £16.1m the year before. Revenue increased 5.5% to £369.4m."We have increased investment in our product pipeline and have continued to strengthen our international businesses which, combined with our established infrastructure, will ensure growth is maintained in the future," the group said in a statement.Dechra increased investment in its product pipeline by 35.9%. Its international pharmaceutical and diets businesses continue to show good growth and profitability at its UK service business continues to increase, it said. A final dividend of 7.20p has been offered, up from 6.10p last time.