UDG eyeing more buys on back of strong year

Irish-based diversified healthcare services group UDG Healthcare will continue its acquisition-led growth strategy, after seeing recent purchases contribute to a bumper set of annual results.

The Dublin-based group, previously known as United Drug, yesterday reported better-than-expected figures for the 12 months to the end of September; with group revenues up by 5% at €2.13bn, underlying operating profit up 9% to €141m and after-tax profits ahead by the same percentage at €110.4m.

Diluted earnings per share were also well ahead of estimates — rising 8% to 45.34c, while the full-year dividend for shareholders is up by 6% on the previous year at 10.12c per share. That was on the back of a proposed 7% increase in the final dividend, to 7.43 per share; and pushes UDG’s history of shareholder payout increases to 25 consecutive years.