3rd Sep 2024 14:24
(Alliance News) - Uniphar PLC said on Tuesday that it remained "well-positioned" to deliver current market expectations, with profit growth achieved across all three of its divisions.
The Dublin-based healthcare services company said its pretax profit for the six months ended June 30 was EUR19.2 million, reflecting a 4.3% increase year on year from EUR18.4 million. Adjusted pretax profit rose 2.8% to EUR23.4 million from EUR22.8 million.
Revenue increased 10% to EUR1.37 billion from EUR1.24 billion and gross profit was EUR206.7 million, up 9.9% from EUR188.0 million. Earnings before interest, taxation, depreciation and amortisation were EUR55.9 million, up 6.3% from EUR52.6 million.
Uniphar's Supply Chain & Retail division achieved a gross profit of EUR95.3 million, up 8.1% from EUR88.2 million. Its Medtech division grew 3.4% to EUR53.5 million from EUR51.8 million and its Pharma division surged by 21% to EUR57.9 million from EUR48.0 million.
Uniphar declared an interim dividend of 0.67 euro cents, rising 4.7% from 0.64 euro cents per share.
Chief Executive Officer Ger Rabbette said: "Uniphar has delivered a strong first half, with gross profit growth of almost 10% year on year. We are seeing the benefit of the hard work we have put in recently to build the foundations for the next stage of growth. The strategic investments we are making in infrastructure and IT will further improve our ability to generate organic growth and give us a stronger platform for integrating and achieving synergies from new acquisitions. We are confident that we will achieve our ambitious target of EUR200 million [earnings before interest, taxation, depreciation and amortisation] in the medium-term."
Shares in Uniphar fell 0.4% to 227.00 pence each in London on Tuesday afternoon.
By Emily Parsons, Alliance News reporter
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