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Home Industry News United Drug reports ‘encouraging’ interim results

United Drug reports ‘encouraging’ interim results

11th May 2010

United Drug has published its financial report for the six months ending March 31st 2010, describing its performance as “encouraging”.

The healthcare company’s revenue for the half-year period came to 853.3 million euros (732 million pounds), which is approximately level with its performance during the corresponding period of 2008-09.

Among the highlights of the last six months underlined by United Drug were its improved positions in the wholesale and pre-wholesale businesses, its debt reduction activities and the launch of its UK home healthcare joint venture with Medco Health Solutions.

As a result, the company expects its profit levels for the full year to be in line with those of 2008-09, despite a difficult economic climate.

United Drug chief executive officer Liam FitzGerald added: “Pre-tax profits for the period are five per cent ahead of 2009 and the group has produced another strong cash flow performance.”

The last six months also saw United Drug commit to becoming an official supplier of medical equipment and funding for the upcoming Special Olympics Ireland Games, which will take place next month.

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