24th Nov 2015 08:40
LONDON (Alliance News) - UDG Healthcare PLC on Tuesday reported higher revenue but said pretax profit from continuing operations fell by about half in its last financial year, as the prior year's results were boosted by the sale of its stake in a joint venture.
The healthcare services provider's pretax profit fell to EUR55.8 million in the year ended September 30, compared with EUR108.1 million the prior year, as revenue from continuing operations rose to EUR919.3 million from EUR764.2 million. The company increased its dividend for the year by 9.0% to 11.0 cents.
The prior financial year benefited from a EUR68.7 million profit on the disposal of the group's 50% stake in the UniDrug Distribution Group Ltd joint venture.
"We continue to experience growing demand for our specialist services from our healthcare industry clients. The group has considerable long-term financing facilities available and good internally generated cash flows to support our growth objectives. We remain very positive about our long-term growth prospects," UDG said in a statement.
Shares in UDG were down 0.6% at 523.00p on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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