7th Aug 2019 11:30
(Alliance News) - Healthcare services provider UDG Healthcare PLC said Wednesday that constant currency adjusted pretax profit for its financial third quarter to June 30 widened compared to the same quarter last year.
By the same measure, the first nine months of the financial year also were ahead of a year before, UDG said, on a combination of organic growth and acquisitions. It didn't provide figures.
The healthcare provider is organised and managed across two divisions: Ashfield and Sharp.
UDG said Ashfield's overall operating profit widened compared to the same quarter last year. Ashfield Communications & Advisory arm performed strongly, driven by underlying growth in the division, plus the benefit of the recent acquisitions of Putnam Associates and Incisive Health. Meanwhile, Ashfield Commercial & Clinical traded in line with expectations with operating profit behind the same quarter last year.
Sharp's revenue improved compared to the same quarter last year driven by increasing demand for the packaging of serialised biotech and speciality products. However, Sharp's operating profit in the quarter narrowed compared to the prior year as the increasing need of resources associated with this accelerated demand in the US commercial business hurt profit margins.
UDG said Sharp is expected to deliver double-digit revenue growth and mid-single-digit underlying operating profit growth for the full year. Additional resources are in place and UDG said that Sharp is positioned to return to normalised operating profit growth in the full year of 2020.
The company reiterated its group-wide full-year guidance for constant currency adjusted diluted earnings per share growth for the year to September 30 to be between 5% and 7% ahead of last years EPS of USD45.9.
The healthcare provider said it expects to issue its preliminary results for the financial year ending September 30 on November 26.
Shares in UDG were trading 2.5% higher at 771.00 pence each on Wednesday in London.
Related Shares:
UDG.L