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Dechra Pharma H1 Profit Up On Strong Revenue Growth

Dechra Pharmaceuticals plc (DPH.L) reported underlying earnings of 54.28p per share for the six-months ended December 31, 2020, higher than the previous year's earnings of 43.46p per share.

Reported earnings surged 66.7% at constant exchange rate or CER to 21.44p per share from 12.80p per share in the prior year period.

Revenue for the period rose 21.8% at CER to £299.8 million from £248.5 million generated a year ago.

In addition, the company's Board declared an interim dividend of 11.11 pence per share, which represents a growth of 8.0% on the prior period. The dividend will be payable on 7 April 2021 to shareholders on the Register at 5 March 2021.

Further, the company noted that trading in the second half remains robust, "although we are starting to see the pre-Brexit inventory build unwind and, therefore, we expect the balance of trading to be first half weighted. Overall the outlook for the full year remains positive and in line with our January trading update. We expect the strong favourable market conditions to remain, our recent acquisitions to perform well and our supply chain improvement to continue."

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