Pharmaceutical and healthcare services group United Drug has reported pre-tax profits of €70.5m for the year to the end of September, up 13% on the previous year.
Revenue grew by 6% to €1.68 billion, while earnings per share rose 12% to 25.7 cent. A 10% higher total dividend of eight cent is being paid, with a final dividend of 5.77 cent.
United Drug said the growth in profits was achieved despite a €4m hit caused by a fall in sterling's value against the euro.
The company announced a new structure for the current financial year. Its pharma wholesale arm and the contract distribution elements of the supply chain services and medical and scientific businesses are being combined to form a single healthcare supply chain division. There will also be a newly formed packaging and speciality services division following a number of acquisitions in the sector.
United said it remained positive about its position in its main markets and continued to see opportunities to expand, though sterling's weakness may limit growth rates in the current financial year.
Despite its strong results, United Drug's shares plunged 23 cent this afternoon to close almost 9% lower at €2.40.
