Healthcare services group Uniphar has reported higher revenues and profits for the six months to the end of June.
The company also said it had achieved its target of doubling 2018 pro forma EBITDA ahead of the timeframe committed to at the time of IPO.
Uniphar's half year revenues rose by 25% to €1.239 billion from €992m while its operating profits increased by 14.2% to just over €28m from €26m.
The Board declared an interim dividend of €0.0064 per ordinary share for six month period, which marked growth of 5%.
The company said its purchase of the McCauley Pharmacy Group, which was completed in January, enhanced its retail pharmacy footprint and service offering. The deal added 34 retail pharmacies to the group.
The company also said that integration of 2022 acquisitions including BModesto Group, Inspired Health and Orspec Pharma are progressing well and delivering expected benefits.
Uniphar said it intends to create a new divisional structure to capitalise on the "attractive" growth opportunities in its target markets and better align with its customers and stakeholders during its next planned phase of growth.
The Uniphar Medtech unit will become a standalone division reflecting its position as a leading specialist Medtech provider in Europe.
The Pharma business unit of Commercial & Clinical will be combined with Product Access to create 'Uniphar Pharma'.
Uniphar said said this platform will enable it to provide an enhanced service offering across the entire lifecycle of an asset, providing patients with access to innovative medicines in global and often complex markets.
Uniphar said its Supply Chain & Retail division will remain unchanged in the new divisional structure.
Ger Rabbette, Uniphar Group's chief executive, said that just over four years post-IPO, he was pleased to announce that the company has already achieved its IPO target of doubling EBITDA within five years.
"We are now focused on creating a strong foundation for our next phase of growth, reorganising our divisions to reflect our strategic ambitions and accelerating our progress in our target markets," the CEO said.
"As well as maintaining an active acquisition pipeline, we are also making a significant investment in our IT systems to further enhance the technological backbone of our business and reach our
ambitious new target of €200m EBITDA over the medium-term," he added.
Uniphar shares slumped over 7% in Dublin trade today.
