Uniphar PLC on Thursday said its interim revenue reached the billion mark on divisional growth and the integration of recent acquisitions, and laid out an ‘ambitious’ target for medium-term earnings growth.
The Dublin-based healthcare services company focused on pharmaceutical and medical technology manufacturers said revenue jumped to €1.24 billion from €991.8 million the year before.
This was driven by a ‘strong performance in the Supply Chain & Retail division’, the firm said, as well as the integration of BModesto Group and Orspec Pharma acquired in June last year, which are ‘progressing well and in line with expectation.’
Uniphar also said the completion of its acquisition of McCauley Pharmacy Group at the start of the year added 34 new pharmacies to the company.
At constant currency, revenue was 25% higher.
Pretax profit, dipped by 9.4% to €18.4 million from €20.3 million a year prior, with selling and distribution costs growing by 12% to €38.9 million.
Earnings before interest, tax, depreciation and amortisation in the first six months of the year grew14% to €51.1 million from €44.9 million a year ago.
Uniphar’s interim dividend amounted to €0.0064 per share, up 4.9% from €0.0061 in the first half of 2022.
Looking ahead, the firm said it is ‘well positioned’ to achieve continued gross profit growth across all divisions and is ‘confident’ it will deliver its full-year expectations.
Uniphar has also set out a target to expand Ebitda to €200 million in the medium-term.
Chief Executive Officer Ger Rabbette said: ‘We are now focused on creating a strong foundation for our next phase of growth, reorganising our divisions to reflect our strategic ambitions and accelerating our progress in our target markets.
‘As well as maintaining an active acquisition pipeline, we are also making a significant investment in our [information technology] systems to further enhance the technological backbone of our business and reach our ambitious new target of €200 million Ebitda over the medium-term.’
Shares in Uniphar were untraded at 227.00 pence each in London on Thursday morning.
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