"Although footfall through veterinary practices has declined and the general economic climate remains uncertain we are continuing to demonstrate solid growth in markets in which we trade," the company said in a statement on Tuesday.

"Our branded product range, the focus of our key strategic objective, continues to grow strongly."

The company, which develops prescription medicines for dogs, cats and horses, therapeutic diets for dogs and cats, and unlicensed medicines, shampoos and supplements, posted underlying pretax profit of 30.1 million pounds ($48.5 million) on revenue 5.4 percent higher at 389.2 million pounds.

Dechra said it had increased investment in product development and moved into new geographies to continue growth.

It is increasing its final dividend for the year to end-June to 8.4 pence a share, up from 7.25 pence a year ago.