26th Nov 2019 09:37
(Alliance News) - UDG Healthcare PLC reported a "year of strong strategic progress" on Tuesday, with both platforms doing well.
Revenue was 1% lower at USD1.30 billion for the year to September, with pretax profit multiplying to USD74.3 million from USD8.4 million.
UDG's adjusted pretax profit climbed by 8% year-on-year to USD150.3 million.
Dublin-based UDG is paying a final dividend of 12.34 US cents, taking the year's total to 16.80 cents, meaning a 5% rise in the annual total dividend.
Adjusted earning per share increased by 5% to 48.44 cents, a figure UDG said was at the top end of guidance.
"2019 was another year of strong strategic progress for UDG Healthcare. We delivered good financial growth with adjusted earnings per share increasing by 7% on a constant currency basis, the top end of guidance," said Chief Executive Brendan McAtamney.
"Our two global platforms, Ashfield and Sharp delivered a strong performance through a combination of underlying growth and the benefit of acquisitions."
Ashfield, which provides services to the healthcare and pharmaceutical markets, posted 3% growth in revenue to USD949.2 million, with adjusted operating profit rising by 10% to USD110.0 million in a "good" year.
Sharp, a packaging business, also had a "good" year, posted 16% revenue growth to USD360.3 million and adjusted operating profit growth of 9% to USD50.0 million.
"Looking ahead to financial 2020, we expect to continue to deliver good growth across our businesses, supplemented by further strategic acquisitions utilising our strong balance sheet," said CEO McAtamney.
UDG shares were 0.3% lower on Tuesday morning in London at 758.00 pence each.
By George Collard; [email protected]
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