Uniphar PLC - Dublin-based healthcare business focusing on pharmaceutical and medical technology manufacturers - Says gross profit and earnings before interest, tax, depreciation and amortisation are expected to be in line with expectations, adding that its normalised free cashflow conversion has topped medium-term guidance. Achieves a 5% increase in organic gross profit for 2022, driven by ‘organic growth across each division and an outperformance in Supply Chain & Retail,’ Uniphar explains. In 2021 gross profit was €274.5 million.

Chief Executive Officer Ger Rabbette says: ‘Today’s trading update reflects a strong performance by the group in 2022, with organic gross profit growth in excess of 5%. We are confident and remain on track to achieve our strategic objective of doubling Ebitda within 5 years of IPO.’

Uniphar had its initial public offering in July 2019. It debuted with a market capitalisation of €310 million. Looking ahead, firm says it is well-positioned to deliver organic profit growth across all divisions.

Back in August, Uniphar had said pretax profit edged down by 1.9% to €20.3 million for the six months ended on June 30, from €20.7 million a year earlier. Revenue, however, rose 2.8% to €991.8 million from €964.9 million.

Current stock price: last traded on Jan 30 at 300 pence each

12-month change: down 10%

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