AAH parent company Celesio experiences growth in 2012

AAH Pharmaceuticals' parent company Celesio has announced its financial results for the first half of 2012, a period characterised by positive trends for the firm.

The group's revenue for the six months came to 11.25 billion euros (8.89 billion pounds), up by 1.8 percent year over year, while its adjusted operating earnings increased by 10.1 percent to 283.5 million euros.

Celesio has controlled AAH – the UK's largest pharmaceutical wholesaler – since 1995 and also operates the high-profile Lloydspharmacy brand.

Over the last few months, the group has made significant efforts to restructure its operations, selling its Pharmexx division to United Drug, while also divesting its Movianto business and Czech Republic division.

This will allow for a greater focus on core divisions such as AAH, while helping its positive development through significant synergy effects.

Celesio chief executive officer Markus Pinger said: "Our stabilisation measures are taking effect and Celesio's operating business is back on track, despite the persistently difficult market environment."