Shares of Dechra Pharmaceuticals PLC (LON: DPH) soared 9% today to record highs near 3400p. The FTSE 250-listed veterinary products firm saw its revenue rise by 6.9% for the year ending June 30. Revenue was reported at £515.1 million from £481.8 million in 2019.
Pretax profit rose 47% to £40.9 million from £27.8 million. As a result, Dechra proposed a final dividend of 24.00p per share, which is higher than 22.10p paid a year ago. Therefore, the total dividend for the financial 2020 year rose 8.5% to 34.29p, from 31.60p the year before.
“The underlying Covid-19 affected longer-term trend cannot yet be ascertained as there is a degree of correction in current sales as markets, such as the UK, return to growth and wholesaler stocks return to more normalised levels. The indications at this stage, however, are positive,” said Dechra in a statement.
Dechra Pharmaceuticals share price rose around 9% to trade at 3390p, the new all-time high