United Drug expects profit growth despite fall in sterling value

Healthcare and pharmaceutical services group United Drug has said it expects to record double-digit percentage growth in profits and earnings for the year to the end of September, despite the fall in the value of sterling.

In a trading statement released today, United Drug said that it has continued to experience good trading conditions across the Group and that "performance is well ahead of the corresponding period in the prior year, in line with the Group's expectations".

In a trading statement covering its third financial quarter to the end of June, United said it experienced 'good trading conditions'. It said its performance was well ahead of the same period last year and in line with expectations.

On material transactions since the end of the period, United Drug confirmed in the statement that US approval has been given for its $99m (€66.5m) purchase of Sharp Corp. and that the deal has closed with effect from today.