Diversified healthcare services business Uniphar says it expects its projected earnings to reduce by €5m this year due to the impact of Covid-19.
This is based on the assumption that severe restrictions will ease gradually from next month onwards before normalising towards the end of the year, according to a statement from the group ahead of its AGM today.
In 2019 Uniphar recorded earnings before interest, taxation, depreciation and amortisation of €58.5m.
Maurice Pratt, chairman of Uniphar, said today: “The strength of our management team in continuing to successfully navigate the group through these challenges has proven key to date.”
In August last year, Uniphar completed the €41m purchase of Durbin, a specialist provider of pharmaceuticals based in the UK and the United States. Of the purchase price, €18.8m is deferred and dependent on certain targets being met. It also made a number of smaller acquisitions.
Uniphar last July raised gross proceeds of €139.4m from its IPO.