Stock Market News
UDG Healthcare profits improve in Q3 but mixed conditions remain
07-08-2014 12:33
Add To Google +1 | Tweet |
Third-quarter revenues and profits were ahead year-on year at UDG Healthcare, the Dublin-based health outsourcing group, thanks to medical outsourcing growth and recovery in supply chain services.
UDG, the former United Drug Group, said the improvement came as its Ashfield commercial and medical outsourcing arm became the largest profit-contributing division for the first time.
The supply chain services business endured challenging market conditions but maintained "solid" trading in the period, with profits flat year-on-year thanks to strong momentum in the US continuing from the previous quarter.
Based on the underlying trading performance the company reiterated previous guidance of adjusted diluted earnings per share for the full year of between 5% and 9% ahead of last year at constant currency.
UDG, which provides sales and marketing, drug wholesaling, medical equipment and specialist healthcare delivery services, said the third-quarter result had helped group revenues and adjusted operating profits for the first nine months of its financial year rise higher than the same period last year.
Profit growth was strong particularly within the healthcare communications businesses due to a combination of organic growth and acquisitions.
The North American business continued its strong performance and the start-up Japanese business moved into profitability in the quarter.
Meanwhile, the acquisition of KnowledgePoint360 in the healthcare communications area has encouraged management with integration going to plan and the business performing well.
Sharp packaging grew revenues and profits "well ahead" year-on-year, with the European business making a small operating loss.
A second phase of investment of €35m at the Allentown packaging facility has the potential to add an additional 25% to US capacity over four to five years.
Shares in UDG were down 0.6% to 342.2p at 11:28 on Thursday.
OH
UDG, the former United Drug Group, said the improvement came as its Ashfield commercial and medical outsourcing arm became the largest profit-contributing division for the first time.
The supply chain services business endured challenging market conditions but maintained "solid" trading in the period, with profits flat year-on-year thanks to strong momentum in the US continuing from the previous quarter.
Based on the underlying trading performance the company reiterated previous guidance of adjusted diluted earnings per share for the full year of between 5% and 9% ahead of last year at constant currency.
UDG, which provides sales and marketing, drug wholesaling, medical equipment and specialist healthcare delivery services, said the third-quarter result had helped group revenues and adjusted operating profits for the first nine months of its financial year rise higher than the same period last year.
Profit growth was strong particularly within the healthcare communications businesses due to a combination of organic growth and acquisitions.
The North American business continued its strong performance and the start-up Japanese business moved into profitability in the quarter.
Meanwhile, the acquisition of KnowledgePoint360 in the healthcare communications area has encouraged management with integration going to plan and the business performing well.
Sharp packaging grew revenues and profits "well ahead" year-on-year, with the European business making a small operating loss.
A second phase of investment of €35m at the Allentown packaging facility has the potential to add an additional 25% to US capacity over four to five years.
Shares in UDG were down 0.6% to 342.2p at 11:28 on Thursday.
OH
Related share prices |
---|
UDG Healthcare Public Limited Company (UDG) share price |
Stock News is provided by Digital Look Corporate Solutions from Sharecast news. Please read the terms and conditions of useage of this data. Republication or redistribution of content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Digital Look Ltd.
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- RBS share price
- Diageo share price
- Standard Life Share Price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- Morrisons Share Price
- Aviva Share Price
- LGO Share price
- Tullow Oil Share Price
- SXX Share Price
- Easyjet Share Price
- Next Share Price
- Thomas Cook Share Price
- SSE Share Price
- IAG Share Price
- Bat share price
- Monitise Share Price
- Kingfisher share price
- Dragon Oil share price
- UKOG share price
- SOLG share price