Published: May 22, 2023 at 2:22 AM ET
Decla Pharmaceuticals said Monday that it expects operating profit to underperform market expectations for fiscal 2023 as wholesaler destocking in the US and UK negatively impacted third-quarter results.
UK animal health company expects operating profit to be less than £186m ($231.5m) for year ending 30 June, with operating profit between £186m and £199m said it fell short of the market’s view of being in the range of . said.
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By Christian Moess Laursen
Decla Pharmaceuticals said Monday that it expects operating profit to underperform market expectations for fiscal 2023 as wholesaler destocking in the US and UK negatively impacted third-quarter results.
UK animal health company expects operating profit to be less than £186m ($231.5m) for year ending 30 June, with operating profit between £186m and £199m said it fell short of the market’s view of being in the range of . said.
The company said wholesaler destocking in both the U.K. and U.S. had a negative impact on third-quarter results, and earnings warnings have been issued so far as market conditions remain volatile in 2023. Stated.
Dekla said destocking in the U.S. has been deeper and longer than originally expected, while order patterns are starting to show signs of normalization in the U.K.
The company said its board is confident that Decla will remain well positioned for medium- to long-term growth.
Email Christian Moess Laursen at christian.moess@wsj.com.
