Thursday, 20 October 2022
Dechra® Pharmaceuticals PLC
(Dechra, Group, Company)
Annual General Meeting
Trading Update
The Board of Dechra issues the following statement prior to the Annual General Meeting (AGM) which will take place at the Company's offices at 6 Cheshire Avenue, Cheshire Business Park, Lostock Gralam, Northwich, CW9 7UA at 9.30 am today.
The Board remains confident in the ability of Dechra to continue delivering against its strategic growth drivers and to achieve current market expectations1 for the 2023 financial year, the phasing of which is expected to be second half weighted. Trading in the first quarter of the financial year, relating to the three month period to 30 September 2022 was, as expected, below the prior year against a challenging comparator, which was due to the elevated levels of market growth during the COVID-19 pandemic and the phasing of price increases.
Operationally, integration of the two US acquisitions made in July and August 2022 has been successful and the Group's cost base and supply chain remain tightly controlled.
No further updates regarding current trading are to be made at the AGM.
Dechra will provide a further Trading Update for the six month period to 31 December 2022 on 12 January 2023 and announce its interim results on 27 February 2023.
| 1. | The Company-compiled consensus estimate for FY23 Group underlying EBIT is £191m and is based upon the average of 10 analyst estimates that have been updated since announcing FY22 Preliminary results on 5 September 2022. |
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Enquiries: | |
| Dechra Pharmaceuticals PLC | |
| Ian Page, Chief Executive Officer | Office: +44 (0) 1606 814 730 |
| Paul Sandland, Chief Financial Officer Jonny Armstrong, Head of Investor Relations e-mail: corporate.enquiries@dechra.com | |
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| TooleyStreet Communications Ltd | |
| Fiona Tooley, Director e-mail: fiona@tooleystreet.com | Mobile: +44 (0) 7785 703 523
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About Dechra
Dechra is a global specialist veterinary pharmaceuticals and related products business. Our expertise is in the development, manufacture, marketing and sales of high quality products exclusively for veterinarians worldwide.
For more information, please visit: www.dechra.com
Stock Code: Full Listing (Pharmaceuticals): DPH
LEI: 213800J4UVB5OWG8VX82
Trademarks
Dechra and the Dechra "D" logo are registered trademarks of Dechra Pharmaceuticals PLC.
Forward Looking Statement
This document contains certain forward-looking statements. The forward-looking statements reflect the knowledge and information available to the Company during the 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 thereby involve a degree of uncertainty. Therefore, nothing in this document should be construed as a profit forecast by the Company.
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