United Drug says its profits and revenues for the quarter to the end of December are better than last year. It said it expects its adjusted earnings per share for the year to September to be 4-8% ahead of the previous year.
In a trading statement today released ahead of its AGM today, it said that much of the improvement has come in its international operations with the businesses outside of Ireland now contributing almost 70% of group profits in the quarter.
Shares in the company climbed 4.6% to close at €2.03 in Dublin this evening.
United Drug looks after supply chain, sales and packaging for the healthcare sector.
It said that revenues and profits in its healthcare supply chain division are ahead of its forecasts. It said that while profits in Ireland are down slightly, its wholesale business continues to outperform a market that has declined in value by almost 3% due to recent regulatory changes.
It added that after a number of difficult years, its medical and scientific business - both in Ireland and the UK - has had a strong first quarter with profits well ahead of last year.
Revenues and profits for United Drug's sales, marketing and medical division are also ahead of the same time last year. It said the integration of the pharmaceutical events management businesses is proving to be very successful and good growth in this business has been recorded.
It also reported a very good start to the year in its packaging and speciality division with profits and revenues improving on last year.
''Based on the good trading performance for the year to date, the outlook for the remainder of the year, and stability in current exchange rates, the group expects adjusted diluted earnings per share for the year to September 2012 to be between 4% and 8% ahead of last year,'' the company's trading statement said.
''With relatively modest debt levels and strong cash flows, the group is well positioned to support its future growth objectives both organically and through additional acquisitions,'' it added.
