Dechra expects full year revenue to be ahead of expectations

Dechra Pharmaceuticals today revealed that it expects its full year revenue to be ahead of current consensus expectations as lockdown restrictions are eased.

Tuesday, 8th June 2021, 8:10 am
Updated Tuesday, 8th June 2021, 8:14 am
Dechra has provide a trading update for the City

The board of Dechra, which employs around 160 staff at its base in Skipton, North Yorkshire has published an update on trading and outlook for the current financial year.

The statement said: "In our interim release on 22 February 2021, we reported on our strong performance for the first seven months of the current financial year.

"The group has continued to benefit from strong market fundamentals as well as lower underlying selling, general and administration (SG&A) costs as a result of COVID-19.

Sign up to our daily newsletter

The i newsletter cut through the noise

"This, coupled with the completion of the UK pre-Brexit inventory unwind and further easing of lockdown restrictions, means the board is increasingly confident that this strong performance will continue for the rest of this financial year.

"Consequently, the group now expects full year revenue to be ahead of current consensus expectations, with trading likely to be distributed more evenly than previously guided between the first and second halves of the financial year."

The group plans to provide further details on its financial results for the year ending 30 June 2021 in a pre-close trading statement, expected to be issued on 12 July 2021.