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Home Industry News United Drug ‘well-positioned’ after strong first half

United Drug ‘well-positioned’ after strong first half

11th May 2011

United Drug has expressed confidence in its future growth prospects based on its encouraging performance in the first half of its current fiscal year.

The company's revenue for the six-month period ending on 31st March 2011 came to 893.6 million euros (778.21 million pounds), up by five percent on the corresponding period of last year.

During the half-year, the company saw an increasing internationalisation of its business, with 65 percent coming from outside Ireland, compared to the 60 percent figures reported in its annual statement for 2009-10.

For example, it was able to strengthen its position as a leading provider of outsourced logistics services for pharmaceutical manufacturers in the UK, while its Britain-based homecare joint venture with Medco also saw success.

United Drug chief executive officer Liam FitzGerald said its improved international success has helped to offset the difficult economic conditions in Ireland.

He added: "Our strong cashflow and low levels of leverage, supported by the long-term refinancing completed last year, leave us well positioned to further develop our international healthcare services offering."ADNFCR-8000103-ID-800528275-ADNFCR

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