United Drug reports 7pc increase in profits but sales flat
UNITED DRUG has reported a 7pc increase in pre-tax profits for the six months to end March but revenues were flat at €894.2m.
Pre-tax profits were €35m and operating profits also gained 7pc to €39.5m.
A dividend of 2.48c per share was declared by the company – a 3pc increase on last year.
Based on a solid trading performance so far this year, the outlook for the rest of the year and stability in current exchange rates will mean a diluted earnings per share for the year ended September up to 8pc higher than last year.
''The first half of 2012 has seen us advance our international healthcare services offering and return to good growth in profits and earnings while continuing to invest in our physical and IT infrastructure and management talent,'' said company chief executive Liam FitzGerald.
''Our vision is to be a truly international healthcare services group headquartered in Ireland,'' he added.
United Drug said that revenues in its sales, marketing and medical division fell by 15pc to €86m due to changes in the contractual arrangements with certain customers.