Sunday 17 December 2017

UDG Healthcare profits jump 18pc

Brendan McAtamney, UDG CEO
Brendan McAtamney, UDG CEO
Michael Cogley

Michael Cogley

Profits at Dublin-based UDG Healthcare increased by 18pc to €41.2m in the first half of the year with the group reiterating its earnings per share (EPS) growth.

The firm expects EPS growth of between 6pc and 8pc based on current positive momentum.

Revenue at the company increased by 6pc to €472.4m in the opening six months of the year while the firm's first dividend of 3.05c represents a 5pc increase on the same time last year.

UDG Healthcare chief executive Brendan McAtamney said the group delivered another period of strong growth.

"The group's activities and strategy continue to be supported by the strong growth outlook for the outsourced healthcare services market.

"Following the completion of the disposal of the United Drug Supply Chain businesses and MASTA in April, the group is now in a net cash position.

"Underpinned by our strong balance sheet and diversified client base, UDG Healthcare remains well positioned to continue to execute our international expansion strategy and meet the growing demand for our specialist services from our global healthcare clients," he said.

During the period the company's operating margin increased to 10.2pc from 9.4pc.

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