Healthcare services group Uniphar has reported higher revenues and operating profits for the year to the end of December and said it was making further progress on its financial and strategic objectives.
Uniphar's revenues jumped by 23.3% on a reported basis to €2.553 billion from €2.070 billion in 2022 while its operating profits rose by 27.4% to €67.708m from €53.155m the previous year.
But its profit before tax excluding exceptional items fell by 7.9% to €53.321m from €57.9m.
Dublin-headquartered Uniphar said its adjusted earning per share of 18.3 cents marked a decline of 0.3 cents mainly due to increased financing costs.
It completed the deal to buy the McCauley Pharmacy Group in January of last year and said the company enhanced its retail pharmacy footprint and service offering. It also completed the acquisition of certain assets from Pivot Digital, an omni-channel and digital strategy consulting business, in August.
The group today said it was announcing a new ambitious medium-term target of growing group EBITDA to €200m over the medium-term.
"This will be achieved through a combination of strong organic growth complemented with acquisitions that meet our disciplined strategic and financial criteria," it added.
Uniphar has created a new divisional structure to capitalise on the attractive growth opportunities in its target markets and better aligns with its customers and stakeholders during this next phase of growth.
The Uniphar Supply Chain & Retail division remains unchanged in the new divisional structure, while tedtech business unit of Commercial & Clinical is now a standalone division reflecting its position as a leading specialist Medtech player in Europe and the Pharma business unit of Commercial & Clinical has been combined with Product Access to create Uniphar Pharma.
"This platform will enable Uniphar 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," it explained.
Ger Rabbette, Uniphar Group's chief executive, said the company performed strongly throughout 2023, making further progress against its financial and strategic objectives.
"Following early delivery on our IPO targets, we have created a new divisional structure to capitalise on our attractive growth opportunities and are now focused on reaching our ambitious new target of €200m EBITDA over the medium-term," he added.
