United Drug has reported a 7% increase in pre-tax profits for the six months to the end of March, while revenues were flat at €894.2m
The company said that its adjusted pre-tax profits for the six month period came in at €35m, while operating profits also rose by 7% to €39.5m.
United Drug said that its businesses outside of Ireland now account for over 70% of operating profits with 25% of the group operating profits generated in the US.
The board of directors have declared an interim dividend of 2.48 cent per share, up 3% on the 2011 interim dividend.
The company said that based on the good trading performance so far this year, the outlook for the rest of the year and stability in current exchange rates, it expects adjusted diluted earnings per share for the year to the end of September to be between 4- 8% ahead of last year.
''The first half of 2021 has seen us advance our international healthcare services offering and return to good growth in profits and earnings while continuing to invest in our physical and IT infrastructure and management talent,'' commented the company's CEO Liam FitzGerald.
''Our vision is to be a truly international healthcare services group headquartered in Ireland,'' he added.
United Drug said that revenues in its sales, marketing and medical division fell by 15% to €86m due to changes in the contractual arrangements with certain customers. It said that its Irish contract sales outsourcing business continues to trade profitably in the difficult healthcare market.
Revenue in the company's healthcare supply chain division inched 1% higher to €730m. United Drug said that market share gains in Ireland have allowed it to keep revenue in line with last year in a market that has fallen by 4% as a result of a number of regulatory changes.
It said that significant new business wins, in the UK and increasingly in Ireland, are contributing to a strong performance that is expected to continue for the rest of the year.
The company said that revenues in its packaging and speciality division rose by 14% to €78m, with the US side of the business performing very strongly during the six month period. In Europe, the company continues to integrate and streamline its packaging businesses across its sites in the UK, Belgium and the Netherlands.
Shares in United Drug closed this evening 2.15% lower at €2.28 a share.
