Highlights

Financial Highlights

Revenue

£ million

up 52.2%

Underlying Operating Profit*

£ million

up 53.1%

Underlying Profit Before Taxation*

£ million

up 53.7%

Underlying Earnings per Share*

pence

up 37.1%

Dividend per Share

pence

up14.1%

Operating Profit

£ million

up 78.5%

Profit Before Taxation

£ million

up 104.2%

Earnings per Share

pence

up 31.6%

* Non-underlying items comprise amortisation of acquired intangibles, acquisition expenses, rationalisation costs, loss on extinguishment of debt, the unwinding of discounts on deferred and contingent consideration and expenses related to the disposal of discounted operations (see notes 4, 5 and 29).
† Adjusted for the bonus element of the Rights Issue.
Restated to reflect continuing operations.

Forward-Looking Statements: This document contains certain forward-looking statements. The forward-looking statements reflect the knowledge and information available to the Company during preparation and up to the publication of this document. By their very nature, these statements depend upon circumstances and relate to events that may occur in the future and thereby involving a degree of uncertainty. Therefore, nothing in this document should be construed as a profit forecast by the Company.

Our Strategy

To develop an international high margin, cash generative, specialist veterinary pharmaceuticals and related products business.

Read more about our Strategy

Operational Highlights

  • Creation of a pure play pharmaceuticals business
  • Eurovet successfully integrated and expected synergies realised
  • Divestment of the Services Segment completed on 16 August 2013, generating proceeds of £87.5 million. Net cash position after receipt of the proceeds is circa £7.0 million
  • Underlying diluted EPS for continuing operations at 29.07 pence, growth of 42.2% versus last year (at constant exchange rate)
  • Profit before tax on continuing operations up by 59.7% (at constant exchange rate) benefiting from a full year of Eurovet and a solid core performance
  • Group revenue on continuing operations up by 56.6% (at constant exchange rate) despite slow trading in the third quarter and third party supply issues in US
  • Focus therapeutic areas in companion animal products grew by 11.2% (at constant exchange rate)
  • Increased investment in Research and Development to support the product pipeline and enlarged Group post-Eurovet acquisition
  • Dividend per share up 14.1% to 14.00 pence

Our Key Strengths

  • Specialist products
  • People and expertise
  • Strategic focus
  • International footprint
  • Strong financial platform
  • Development pipeline
  • Strong market position
  • Growing markets
  • Customer satisfaction
  • Innovation

Read more about Reasons to Invest

Our Values

Our six Dechra Values: Dedication, Enjoyment, Courage, Honesty, Relationships and Ambition reflect the best aspects of behaviour and competence in Dechra. We embrace the Values at every level of the business.

Read more about Our Values