UDG Healthcare’s revenue up 11% to €2bn
The Dublin-headquartered group — up until recently known as United Drug — yesterday posted an 11% jump in group revenue, for the 12 months to the end of September, to just over €2bn, with adjusted operating profit up 13% to just over €95m and pre-tax profits rising by 8% to €81.8m. The delivery of 7% diluted earnings per share growth aided a higher than anticipated dividend of 9.56c (up 6%).
While positive currency movements helped the results, UDG Healthcare saw revenue increases across each of its key divisions. The group spent over €80m on acquisitions, mainly in the growing contract sales outsourcing (CSO) unit. Revenue, in the overall sales/marketing and medical division (which now accounts for a third of group profits) grew by 74% to nearly €372m, while operating profit was up by 55% to €31.8m.
