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Healthcare services business Uniphar reports rise in gross profit

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Ger Rabbette

Ger Rabbette

Ger Rabbette

Irish healthcare services firm Uniphar said that the company performed in line with expectations in the first half of the year, with gross profit rising by 5pc over the period.

The company, which works with more than 200 multinational pharmaceutical and medical technology manufacturers, said in a trading update that the business had performed strongly despite “continued macro-economic uncertainty and inflationary pressures.”

The rise in gross profit was driven by an “outperformance” of its supply chain and retail category, with organic growth recorded across each of its divisions.

The company also acquired Irish headquarted pharmacy services company Navi Group last December, with Uniphar stating that M&A will play an important role in the company's ongoing growth.

Uniphar said it remained confident that it will deliver on current year expectations across the group. In 2021, the group generated revenues of €1.9bn, with a gross profit of more than €274.5m.

The group employs more than 2,900 people across Ireland, UK, Germany, Switzerland and the US, as well as the Benelux and Nordics regions.

“Once again, our Supply Chain & Retail division has outperformed its medium-term guidance demonstrating the benefits of our market leading position and the importance of continued investment in this division,” said chief executive Ger Rabbette.

“While the macro-economic environment remains uncertain, we have been successful in using our scale and deep relationships with our long-term partners to mitigate inflationary headwinds,” he added.

He added that the company is on track to double EBITDA within five years of Uniphar’s IPO, which took place in 2019.

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