United Drug’s 2010 revenues experience growth

United Drug has published its financial results for the full-year period ending on September 30th 2010, during which it experienced a one percent year-on-year revenue increase.

The company accumulated a revenue total of 1.7 billion euros (1.5 billion pounds) during the 12 months, while pre-tax profits grew by a similar amount, when taking into account the costs of its new Medco UK homecare joint venture.

During the year, the firm saw an "excellent" level performance from its contract sales and marketing services division, while increasing the proportion of profits generated outside Ireland to 60 percent.

It also highlighted the strength of its cash flow and debt reduction initiatives, which it attributed to its "tight working capital management".

Liam FitzGerald, chief executive officer of United Drug, said: "Through 2010 United Drug has effectively managed the challenges and opportunities presented by healthcare austerity measures and weak economies."

Earlier this year, the company agreed a deal to purchase Macclesfield-based communications group InforMed for a total of 11.4 million pounds.