UDG Healthcare operating profits rise to €45m
UDG Healthcare will spend time bedding down what was its largest ever acquisition before eyeing any more big deals, according to its chief financial officer, Alan Ralph.
He was speaking to the Irish Independent as the company reported a solid performance in the first half of its financial year and raised its earnings outlook for the full-year that ends in September.
Shares in the company were up about 3pc in early trading in London, before easing back later in the morning.
UDG Healthcare said that revenue in the first half rose2.3pc to €1.04bn, while operating profit was 1.8pc higher at €45m. On a constant currency basis, the increase for both figures was higher.
In the first half of its financial year, UDG Healthcare generated 41pc of its profits in the UK, 33pc in the US and the remainder in the rest of Europe, primarily in Ireland, where it’s the biggest drug wholesaler on the island.
In March, the company completed its €105m purchase of UK-based KnowledgePoint360 (KP360), a medical communications business that operates in Britain, the US and Germany.
KP360 is now part of UDG Healthcare’s Ashfield unit, which offers a broad range of services to clients, including contract sales outsourcing to pharmaceutical manufacturers. Ashfield also provides sales teams, telesales, nurse educators, medical information and event management in 22 countries.