Uniphar CEO Ger Rabbette
Irish healthcare services business Uniphar reported a rise in profits in the first six months of the year.
Earnings before interest, taxes, depreciation, and amortisation (Ebitda) rose to €54.9m in the first half of 2024.
This reflected a 6.3pc increase from the same period last year.
Uniphar attributed this growth to its current strategy and ongoing innovation.
Revenue stood at €1.4bn in the first six months of 2024, up 10.3pc from the corresponding period in 2023.
The group also reported that it had seen growth across all three of its divisions, with the pharma division recording 20.2pc organic growth in the period.
This was driven by its capabilities in its ‘on demand’ business, the company said. It also pointed to a strong performance in pharma services.
Uniphar’s supply chain and retail division recorded 3pc organic growth following ‘robust’ market demand.
The medtech division also reported organic growth of 3.4pc.
Gross profit margin was 15.1pc in the first six months of the year, down slightly from 15.2pc in the first half of 2023,
The board declared an interim dividend of €0.0067 per ordinary share, up 5pc from the same time last year.
Uniphar expects organic profit growth across all divisions in line with medium-term targets, while the company said it expects to deliver on market expectations for 2024.
“Uniphar has delivered a strong first half, with gross profit growth of almost 10pc year on year,” chief executive Ger Rabbette said.
“The strategic investments we are making in infrastructure and IT will further improve our ability to generate organic growth and give us a stronger platform for integrating and achieving synergies from new acquisitions,” he said, adding that the group is confident that it will achieve its target of €200m Ebitda in the medium-term.