Healthcare services group Uniphar has reported higher revenues, earnings and operating profits for the six months to the end of June, in line with its expectations.
Uniphar said its half year revenues rose by 2.9% to €991.8m from €964.8m the same time last year while operating profits were up 5.2% to €25m from €23.6m.
It also reported EBITDA growth of 9.2%, from €41.1m to €44.9m, which it said showed the resilience of the business despite continued macroeconomic uncertainty and inflationary pressures.
Uniphar said it saw profit growth across all divisions with Supply Chain & Retail once again outperforming the company's medium term guidance.
Its board has declared an interim dividend of €1.7m (€0.0061 per ordinary share) for the six months to the end of June.
Ger Rabbette, Uniphar's group chief executive officer, said the group has performed strongly during the period delivering adjusted earnings per share growth of 18%.
"Each division has delivered organic gross profit growth, underpinned by a strong team performance across the board, with an outperformance in Supply Chain & Retail," he said.
"The Group has leveraged its scale and diverse service offering to help mitigate inflationary pressures which continue to be a challenge across the globe," the CEO added.
"We remain confident and are on track to achieve our strategic objective of doubling 2018 pro-forma EBITDA within five years of IPO," he said.
Looking ahead, Uniphar said it is well positioned to drive gross profit growth across all divisions and is confident of delivering on current trading expectations for the full year.
But it added that cost inflation continues to be a concern and will remain a key focus for management through the rest of 2022 and into 2023.
"The business has substantially mitigated the cost pressures experienced to date but given the unprecedented levels of inflation being experienced in certain markets, the group remains focused on maintaining margins through the current inflationary cycle," it added.
