Irish pharmaceuticals group Uniphar has reported surging profits and revenues for the six months to the end of June after its IPO in July.
Uniphar said its half yearly revenues rose by 20% on a reported basis to €800.5m from €669m the same time last year.
Profits before tax - excluding exceptional items - soared by 176% to €13.8m from €5m for the first six months of 2018. Operating profits for the period also jumped by over 1,000% to €15.9m from €1.075m.
Uniphar said the business has performed in line with the board's expectation, with growth across all three divisions - commercial and clinical; product access and supply chain and rental.
It said this reflected the benefits from recent acquisitions and strong organic growth.
"Uniphar is well positioned to deliver an outcome for the full year 2019 in line with its plan," it added.
Ger Rabbette, Uniphar's group chief executive, said the company's product access and commercial and clinical divisions continue to be the key growth engines for the Group, especially in the UK and Benelux markets.
He added that the supply chain and retail division saw strong volume growth in Ireland.
"The successful IPO of Uniphar in July provides a platform for a steady growth trajectory and our subsequent acquisition of Durbin positions us well to become a global leader in the provision of product access solutions," Mr Rabbette said.
"We are on a firm footing for the second half of the year, going into 2020, and the next stage of our planned development in delivering our five year strategy," he added.
