Thursday 29 September 2016

UDG posts 24pc increase in full-year pre-tax profit

Published 24/11/2015 | 07:10

UDG Healthcare chief executive Liam FitzGerald
UDG Healthcare chief executive Liam FitzGerald

Healthcare company UDG posted a 24pc increase in full-year pre-tax profits, to €107m.

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Revenue grew 10pc to €2.33bn. Chief executive Liam FitzGerald said: "2015 has been another year of substantial financial and strategic progress for UDG Healthcare. The Group delivered strong underlying growth and benefited from currency movements, resulting in profit before tax increasing by 24pc and EPS up 21pc on the prior year."

"Group operating margins of 5.2pc continued to expand and exceeded our strategic target of 5pc for the first time," he added.

Mr FitzGerald said the proceeds of the company's pending €407.5m disposal of its Irish distribution businesses "will support the ongoing implementation of the Group’s international expansion strategy and will increase shareholder value through growing the Group’s growth platforms."

Mr FitzGerald is to retire in March.

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