HEALTHCARE AND pharmaceutical services group United Drug expects double-digit percentage growth in operating profits and earnings for the year to the end of September.
In a trading statement, the largest pharmaceutical wholesaler in Ireland said the full-year results should be in line with market expectations, despite sterling weakness against the euro.
The company said sales of medicines in the Republic showed strong growth over the period, although there was a slowdown in the second half, which the company attributed to uncertainty surrounding reimbursement to retail pharmacies.
The company said its UK distributor Craig Hayward acquired during 2007 has performed ahead of expectations and as a whole the “pharma wholesale division will report another very good year”.
A slowdown in equipment sales means the group’s medical and scientific division was likely to miss expectations but should still show results ahead of 2007.
The company said it remained positive despite the “ongoing challenge presented by Government regulation and budgetary pressures impacting on parts of the business”.
Operating profits in the year to September 2007 were €456.9 million, while earnings per shares came in at 21 cent.
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