Healthcare services group Uniphar has reported higher profits and revenues for the year to the end of December as it said it delivered a strong performance which exceeded expectations.
Uniphar said its revenue for the year on a reported basis rose by 9.5% to €1.824 billion from €1.665 billion.
Its profit before tax - excluding exceptional items - jumped by 20.8% to €38.367m from €31.77m the previous year.
The company's operating profits for the year were also higher, rising by 41.6% to €39.94m from €28.2m.
During the year, Uniphar completed four acquisitions which increased its US capabilities, retail pharmacy market share and further strengthened its digital infrastructure.
The deals included the Hickey's Pharmacy Group, US-based RRD International and Diligent Health Solutions and healthcare technology company Innerstrength.
The company said it was proposing a dividend of €4.2m for 2020 - subject to approval at its AGM.
Ger Rabbette, Uniphar's group chief executive, said its "excellent" performance in 2020 was a testament to the dedication and commitment of its staff and the continued successful execution of the company's strategy.
"In what proved to be an unprecedented year, we delivered reported gross profit growth across all our divisions and achieved organic gross profit growth of 6.7%, driven by strong momentum in our two international divisions, Commercial & Clinical and Product Access," Ger Rabbette said.
He also said that 2020 was another important year for the group from a strategic perspective and it completed a number of key value-enhancing acquisitions including RRD International and Diligent Health Solutions in the US and Hickey's Pharmacy Group and Innerstrength in Ireland.
"Our medium-term guidance remains unchanged and we are confident of achieving our strategic objective of doubling pro-forma EBITDA within five years of IPO," the CEO added.
