United Drug profits expected to dip
Approximately 45% of the Dublin-based group’s annual profits are generated in the British market, in sterling terms. Due to sterling falling by around 16% in value against the euro over the nine months to the end of June, United has corrected its previously positive profits outlook downwards.
In May, United Drug said that it anticipated that its full-year profits — for the 12 months to the end of September — should be in line with its previous year. For the 12 months to the end of last September, the company recorded pre-tax profits of €58.5 million and operating profits of €66.2m (rises of 13% and 17%, respectively).
