UDG Healthcare ups earnings forecast
The Dublin-headquartered diversified medical services group — previously known as United Drug — yesterday reported a solid set of first-half figures and said that, based on recent acquisition activity, underlying trading performance in the year to date and outlook for the remainder of the year, adjusted diluted earnings per share — for the 12 months to the end of next September — should rise by between 5% and 9%. UDG’s board had previously forecast earnings growth of between 2% and 5%.
Yesterday’s figures — covering the six months to the end of March — showed a 4% year-on-year increase (in constant currency terms) in adjusted operating profits to €45m, with first-half post-tax profits up by 3% to €30m. At just over €1.04bn, UDG’s first-half group revenues were ahead of the same period last year, by 3%.
