Business Irish

Sunday 22 October 2017

Ex-CRH boss Myles Lee joins UDG board

Ex-CRH ceo Myles Lee
Ex-CRH ceo Myles Lee
John Mulligan

John Mulligan

Former CRH chief executive Myles Lee is joining the board of UDG Healthcare as a non-executive director. He'll take up the role in April.

It's the third directorship Mr Lee has taken at a stockmarket-listed company since he retired from CRH in December 2013.

In 2015, he joined the board of global firm Ingersoll Rand, whose brands and products include Thermo King, industrial pumping systems, and electric golf buggies.

He is also a non-executive director of FTSE-100 group Babcock International, which he also joined in 2015.

In a trading statement, UDG said that its operating profits in the first quarter of its financial year were "well ahead" of the corresponding quarter last year and has maintained its full-year guidance.

The company held its annual general meeting yesterday.

It added that the performance in the quarter to the end of December was driven by "good underlying growth" coupled with the positive impact of acquisitions.

UDG Healthcare's activities span sales, marketing and medical communications outsourcing, and drug packaging.

Its largest division - Ashfield - provides outsourced services including sales, marketing and patient engagement to drug companies.

The company, whose chief executive is Brendan McAtamney, said that Ashfield continued to perform well, with underlying profit ahead of the previous first quarter period.

Its Sharp packaging division delivered operating profits that were "moderately ahead" in the first quarter, following a strong comparable quarter in the previous financial year.

Based on the group's trading performance during the first quarter of the financial year, UDG said its expects constant currency adjusted diluted earnings per share for the year to September 30, 2017 to be between 13pc and 16pc ahead of last year's figure.

UDG will report in dollars from this year.

Irish Independent

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