Cardinal Health reports second-quarter fiscal results

Cardinal Health experienced a year-on-year revenue increase of three per cent during the second quarter of its fiscal year, it latest earnings results have shown.

The company generated $24.9 billion (15.8 billion pounds) during the three-month period – up from $24.1 billion the year before.

This growth was driven by its pharmaceutical business, which also grew by three per cent to $22.7 billion.

It was in the medical segment that Cardinal Health saw the largest growth, however, with a nine per cent rise to $2.2 billion.

The increase was attributed primarily to “sales growth with existing customers”.

Cardinal Health’s chairman and chief executive officer George Barrett said the firm’s performance was encouraging.

“These results reflect excellent progress on our key initiatives and customer focus across our businesses, as well as the benefit from external factors that were more pronounced than we had anticipated,” he remarked.

The statistics were published following the recent appointment of James Mongan to Cardinal Health’s board of directors.