UDG Healthcare reports strong full-year revenues and profits
UDG Healthcare – formerly known as United Drug – has posted full-year results at the top end of expectations.
Releasing its annual results this morning, the company said that its US packaging operation and its commercial services units had performed strongly.
The company completed a number of acquisitions in the past 18 months.
Revenue at the group, whose activities span pharmaceutical packaging, marketing and distribution, rose 11pc to €2.03bn in the 12 months to the end of September. Operating profit was 13pc higher at €95.1m. Its US operations accounted for 34pc of operating profits, up from 26pc in 2012.
The US, UK and the Eurozone each generated circa one third of the group’s operating profits during the year, with the US increasing its share by eight percentage points to 34pc, according to UDG CEO Liam FitzGerald. He said the company had made “substantial progress” in its last financial year.
“The group has considerable long-term financing facilities available and good internally generated cash flow to support our growth objectives,” he added. UDG holds strong market positions in attractive markets and remains very positive about its future growth prospects, said Mr FitzGerald.