Total Revenue


2017: £359.3m

CER: +13.9%
AER: +13.3%

Underlying Operating Profit


2017: £81.3m

CER: +24.0%
AER: +22.0%

Underlying Diluted Earnings Per Share


2017: 64.33p

CER: +20.9%
AER: +18.8%

Dividend Per Share


2017: 21.44p

CER: +18.9%
AER: +18.9%

Reported Operating Profit


2017: £33.2m

CER: +6.3%
AER: +2.7%

Reported Diluted Earnings Per Share


2017: 27.93p

CER: +38.5%
AER: +32.6%

CER is defined as Constant Exchange Rate against prior year, whilst £ is at reported, Actual Exchange Rate (AER). A reconciliation of underlying to reported measures can be found in the Financial Review. All of the below measures are at CER unless otherwise stated.

Financial Performance

  • Revenue growth of 13.9% to £407.1 million.
  • Underlying operating profit growth of 24.0% to £99.2 million.
  • Underlying EBIT margin expansion of 200 bps to 24.4%.
  • Underlying diluted EPS increased by 20.9% to 76.45 pence.
  • Full dividend of 25.50 pence.

Strategic Progress

  • Acquired AST Farma and Le Vet in the Netherlands/EU and RxVet in New Zealand.
  • Outperformance in the majority of our countries and therapeutic sectors.
  • Several new global product registrations, and new opportunities secured.