Healthcare services firm Uniphar posts a nearly 10% increase in gross profit 

Among the companies owned by Uniphar Group include Allcare Pharmacy, Life Pharmacy, and Hickey’s Pharmacy.

Irish healthcare services firm Uniphar Group posted a nearly 10% increase in gross profit during 2024 as it reported strong growth in its pharma services and retail divisions.

Among the companies owned by Uniphar Group include Allcare Pharmacy, Life Pharmacy, and Hickey’s Pharmacy.

According to the company’s 2024 preliminary results, it generated €2.7bn in revenue - an 8.5% increase year-on-year - resulting in a gross profit of €427m - an increase of 9.6%.

The company has three main divisions including Uniphar Medtech, which is primarily a medical device distributor and solutions partner; Uniphar Pharma which provides services to pharmaceutical companies; and Uniphar Supply Chain and Retail which is a pharmaceutical wholesaler as well as pharmacy operator.

Gross profit at the supply chain and retail division grew from €187m in 2023 to €197.1m last year while its pharma services division saw gross profit increase 17.8% to €121.5m.

Uniphar Medtech’s reported gross profit increased 9.1% to €109m.

Following various deductions, the company reported an operating profit for the year of €82m - a 21.1% increase compared to 2023.

A dividend for the year of €5.2m was posted by the company.

In its outlook for 2025, Uniphar said it is “well positioned” to achieve continued organic gross profit across each of its divisions.

The company is targeting €200m in earnings before interest, taxes, depreciation and amortization by 2028. It achieved €123.46m during 2024.

“Mergers and acquisitions will continue to play an important role in Uniphar’s growth strategy, and the group continues to have a disciplined approach to capital allocation while managing an active pipeline of acquisition opportunities to further enhance the Group’s growth potential,” the company said.

Ger Rabbette, chief executive of Uniphar Group, said 2024 was an “outstanding year” across their divisions with “strong organic” growth in gross profit.

“The results demonstrate the impact of our strategy on our ability to grow at pace organically,” he said.