United Drug has reported pre-tax profits of 23.3 million euros for the year to the end of September, an increase of 25% on the same period last year. Turnover rose by 17% to just over one billion euros.
Earnings per share rose by 23% to 69.06 cents. A 22% higher final dividend of 15.75 cents has been declared.
United says turnover and profits grew significantly in its pharmaceutical wholesale business. The company recently opened a 21 million euro automated distribution facility at Magna Park in west Dublin and is planning to build a new depot in Ballina.
The company's main competitor, German group Gehe, has been buying a number of pharmacy chains recently, but United says it will not be following this strategy of vertical integration, as it involves potential conflicts with existing customers.
United says its other two divisions - contract distribution outsourcing and contract sales outsourcing - also performed well, with sales and profits ahead of last year.
Shares in United Drug closed nine cents higher at 13.80 euros in Dublin this evening.
