News

United Drug FY profit on track

03 October 2008 07:19:00

Irish drug supplier United Drug said results for the full year are expected to be in line with company forecasts of double digit growth from the year before despite challenging markets.

"Operating profit and earnings for the year ended 30 September are again expected to show double-digit growth over the prior year," said United in a trading statement.

"These results should be in line with current consensus market expectations despite the difficult capital equipment market conditions that continue to impact on our Medical & Scientific business and the on-going weakness of sterling relative to the euro," the group added.

In today's update United said a sales slowdown in capital equipment would result in its medical & scientific division reporting full year results below its original expectations but ahead of the prior year.

Meanwhile its pharma wholesale businesses in the Irish Republic and Northern Ireland "made excellent progress during the year and both have increased their market leading positions during the period."

Group expansion is also on the cards with "considerable opportunities to expand the business, both organically and through acquisition".

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