UniPhar reports 41% rise in profits

UniPhar Plc, a distributor of healthcare products to community and hospital pharmacies, has reported a 41% increase in profits before tax and to €15.6m for 2005.

UniPhar Plc, a distributor of healthcare products to community and hospital pharmacies, has reported a 41% increase in profits before tax and to €15.6m for 2005.

Turnover during the year increased by 21% to €618m at the group, according to the group's report today.

Chief executive of UniPhar Plc, Mr Jim Canavan, said that 2005 had been another record year for the group, with growth rates exceeding those of the group’s competitors.

"The successful integration of the Ammado Group, incorporating TP Whelehan, Boileau & Boyd and Perrans, together with the development of Aegis and our improved utilisation of our operational capacity contributed to the group’s record profits for 2005.

"Our continued investment in the independent pharmacy ownership scheme (IPOS) was also one of the key objectives at the start of the year and I am delighted to report significant progress in this area. We are also at an advanced stage of commencing our first business venture in the UK," Mr Canavan said.

He added that the IPOS scheme had now made over 140 pharmacies available to purchasing pharmacists and would continue to pursue its strategy of protecting community pharmacy ownership in the future.

Following a rezoning of the Group's Belgard Road site, Mr Canavan reported that the group had now decided to re-locate to a new greenfield facility close to the Belgard Road.

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