Midlands veterinary products group Dechra Pharmaceuticals is continuing to make steady progress.
In a pre-close update ahead of its results for the year ended June 30 it said clinical trial work required to obtain regulatory approval for pet drugs Vetoryl capsules and Felimazole tablets in the US was going according to plan. Vetoryl is for Cushing's dis-ease in dogs, and Felimazole, for feline hyperthyroidism.
The trials are expected to be completed by the end of 2007. Vetoryl has already been launched in France, Germany and the Benelux countries. The Stoke-on-Trent firm stated: "Although this only had a small impact on results in the financial year, we anticipate that the contribution will be more substantial in 2007.
"Trading in the second half continued to be encouraging with the group achieving revenue growth of approximately 10.5 per cent for the year.
"We continue to make solid progress across the business which is reflected in the performance of both our Pharmaceuticals and Services divisions and in-line with management expectations."
The results are scheduled for September 5. Dechra sees the US market as the biggest growth opportunity for its veterinary drug development business, given America's fondness for pets and the knowledge of its vets.
The company derives a large part of its income from UK and international animal healthcare markets. It has a market value of about £115 million.
It opened its US operation in April last year.
Around 70 per cent of Dechra's operating profit comes from its services division including National Veterinary Services, which is the UK's largest wholesaler and distributor of veterinary drugs with a market share of more than 43 per cent in sales terms.
But its smaller drug development division, developing new veterinary products for cats, dogs and horses, is likely to overtake its vet services arm down the road.
Meanwhile superstore chain Pets at Home unveiled plans to open 18 new stores across the UK, as it reported a 19 per cent hike in earnings.
The Cheshire-based firm, which already has 173 shops selling animal food and accessories, hopes to build the new outlets during the next financial year.
Pets at Home also said it increased pretax earnings before interest, goodwill and depreciation to £40.7 million, from £34.1 million, in the year to March 31.
It said an improved range, which included designer-label style dog bedding, had helped increase turnover from £260 million to almost £277 million.
The changes sparked a six per cent increase in like-for-like sales to March, compared with the same period to March 2005. Chief executive Matt Davies said: "People want fashionable items that sit well in the rest of the house from dog bedding to aquariums, but at a reasonable price.
"Encouragingly, a combination of increased direct importing, improved product mix and a focus on own label has improved our margins.
"In a year that has been difficult for the UK retail sector generally, we achieved strong like-for-like sales, which have in turn driven overall profitability."
The company, which employs 2,500 people opened 11 new stores in the last financial year. But it plans to open another 18 shops in the year from March. Many of the new stores will be built on retail parks.
There are also plans afoot to almost double the size of the company's national distribution centre in Stoke-onTrent by the end of the year.
In July last year, private equity group Bridgepoint bought the firm for £230 million after minority shareholders 3i and ICG decided to sell their stakes.
But Anthony Preston, who founded the business in Chester in 1991 and whose family previously had a controlling stake, retained an undisclosed holding.
