This British veterinary pharma stock closed 10% down on Monday
Dechra Pharmaceuticals plc (LON: DPH) ended roughly 10% down on Monday after the veterinary products company cited higher expenses and reported lower-than-expected profit for its fiscal 2022.
Dechra Pharmaceuticals’ full-year resultsCopy link to section
- Profit (before tax) was £77.6 million versus the year-ago £74 million
- Revenue jumped 13% on a year-over-year basis to £681.8 million
- SG&A expenses climbed from £69.1 million to £178.6 million
- Consensus was £90.5 million profit on £677.8 million in revenue
- Declared 44.89 pence a share of dividend – up from 40.50 a share
Despite profit coming in weaker than the experts’ forecast, Dechra Pharmaceuticals is convinced it’ll outperform in fiscal 2023. “DPH” currently trades at a price-to-earnings multiple of 47.
CEO Page’s remarksCopy link to section
Other notable figures in the audited preliminary full-year results include a 9.4% YoY increase in underlying operating profit. Dechra Pharmaceuticals generated £163.3 million in the recently ended year. Commenting on the financial performance, CEO Ian Page said:
We’ve continued to progress on all aspects of our strategy; the product development pipeline was strengthened, material acquisitions were completed post year-end, and a new subsidiary was established in South Korea as we continue our geographical expansion.
The report arrives almost a week after the Northwich-headquartered firm said it was buying Med-Pharmex Inc for £225.81 million ($260 million) to expand its footprint in the United States. Shares are now down 35% versus the start of 2022.
Copy expert traders easily with eToro. Invest in stocks like Tesla & Apple. Instantly trade ETFs like FTSE 100 & S&P 500. Sign-up in minutes.
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
Looking to invest?
Invest and trade CFD stocks, ETFs, digital assets & commodities in minutes with our highest-rated broker.
77% of retail CFD accounts lose money.