Irish healthcare services company Uniphar said the company met expectations for the first half of the year, with gross profit up 8.8 percent over the period.
The company reported gross profit of €146 million for the six months ended June 30, with growth in its three main divisions.
The utilities and retail business exceeded the medium-term forecast with organic growth of 5.2 percent.
Meanwhile, earnings before interest, taxes, depreciation and amortization (EBITDA) rose 9.2 percent to 44.9 million euros despite “continued macroeconomic uncertainty and inflationary pressures”.
The company’s turnover also rose by 2.8 percent to 991.8 million euros in this period.
Uniphar’s gross margin increased to 14.7 percent from 13.9 percent in the period.
The company’s board of directors has now approved an interim dividend of €1.7 million for the period up to June 30th.
The group also acquired Orspec Pharma at the end of the period, which will give Uniphar access to the APAC region.
“Headquartered in Australia, Orspec will support our goal of becoming a global leader in product access services through the delivery of expanded access programs and the delivery of unlicensed medicines,” said Chief Executive Ger Rabbette.
“The group has used its size and diverse service offering to alleviate inflationary pressures, which remain a challenge globally,” he added.
https://www.independent.ie/business/irish/uniphar-profits-rise-despite-inflationary-pressures-41946146.html Uniphar profits rise despite ‘inflationary pressures’