In 2016, veterinary pharmaceutical group Dechra (DPH) built a firm base in the US pet health market by acquiring Putney Inc. From that base the group has expanded its sales team, added two further regional managers and rolled out a heap of new products. Thus, Dechra’s US division reported a 21 per cent increase in revenues in the first half of the 2018 financial year in spite of headwinds caused by two natural disasters and rising generic competition. Operating leverage widened US margins to 35 per cent, which sent operating profit there up 44 per cent to £25.5m.
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