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Uniphar expects earnings to reduce by €5m this year due to Covid-19 impact

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Ger Rabbette, CEO of Uniphar,

Ger Rabbette, CEO of Uniphar,

Ger Rabbette, CEO of Uniphar,

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.

Online Editors