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United Drug sees higher profits for 12

Tuesday, February 12 10:26:58

Dublin-listed healthcare sector services provider, United Drug, this morning said it expects earnings per share for 2012 to be 5pc to 8pc higher than the previous year.

Trading across the group during the period has been strong, its interim management statement said, with revenues and profits for the three months to 31 December 2012 ahead of the same period last year.

Much of this growth has come from its international operations with the businesses outside of Ireland contributing in excess of 70pc of group profits.

During the 2012 financial year, it announced five acquisitions and four of the five businesses acquired have now been fully integrated.

Final competition clearance for the fifth, the acquisition of Pharmexx GmbH (a multi-country contract sales outsourcing business) was received in November 2012 and the acquisition completed on 20 November 2012.

"Since its completion the group has been implementing a detailed integration plan to standardise processes and procedures in the acquired business. Pharmexx has traded ahead of expectations throughout this period. The integration is progressing satisfactorily and will result in some restructuring costs being incurred to bring further efficiencies," the statement said.