Uniphar plans extension of share discount scheme

Irish healthcare distributor Uniphar has reported after-tax profits up 17% and plans to extend its shares for discount scheme.

A notice outlining the terms of the scheme will be sent to its customers shortly, chief executive Jim Canavan said in a shareholder update issued today.

Canavan also indicated that all areas of its business performed exceptionally well last year with group turnover rising 17% to €407m.

Its wholesaling and distribution arm has seen enhanced service quality with a new warehouse management system delivering high levels of accuracy in order picking and delivery.

Some new agencies including Sankyo and Bayer Biological, were also acquired during the year which helped to increase the company's customer base.

Uniphar labelled its Independent Pharmacy Ownership Scheme (IPOS) as great success. 85 pharmacies joined the scheme in 2003 and the company planned to significantly increase that number during 2004.

During the year, Grainne Nally, Maurice Pratt, David Keyes and John O'Donnell were appointed to the board.

Uniphar is owned by approximately 400 independent pharmacists in Ireland.