| 17.9°C Dublin

UDG Healthcare reports revenue and profit growth

Close

UDG Healthcare chief executive Brendan McAtamney

UDG Healthcare chief executive Brendan McAtamney

UDG Healthcare chief executive Brendan McAtamney

UDG Healthcare has seen its revenue and profit grow in the first half of its financial year.

The company reported underlying net revenue growth of 4pc in the six months to March 31 to $693.6m, while profit before tax was $62.3m.

UDG has two units. Its Ashfield division provides communications and advisory services to pharma firms, as well as commercial and clinical services.

It also has a pharmaceutical packaging business, Sharp.

The group is active in 50 countries.

During the six month period, Ashfield's operating profit increased by 24pc on a constant currency basis, driven by good underlying growth in Communications and Advisory, and the benefit of acquisitions.

Sharp performed “very strongly”, with operating profit increasing by 24pc on a constant currency basis driven by “strong” underlying growth across the division.

However, the group’s performance in the second half of the year is expected to be impacted by the coronavirus pandemic.

UDG’s financial year 2020 interim dividend has been suspended and its financial guidance withdrawn due to current uncertainty.

Online Editors