logo
  

UDG Healthcare H1 Profit Surges, Lifts FY19 View On Acquisitions; Stock Up

UDG Healthcare plc (UDG.L, UDHCF) said Tuesday that its first-half profit before tax was $30.3 million, compared to prior year's $1.7 million. Earnings per share were 9.27 US cents, up from 0.44 US cents a year ago.

The healthcare services provider's adjusted profit before tax was $64.5 million, compared to $63.2 million last year.

Adjusted earnings per share were 21.21 cents, up from 20.19 cents last year.

Adjusted net operating margin increased to 12.5 percent from 11.8 percent last year.

Revenue for the first half dropped 3 percent to $656.6 million from prior year's $675.3 million. Total net revenue declined 4 percent on a reported basis and 1 percent on constant currency basis.

Net underlying revenue growth was 6 percent.

Further, the company announced that interim dividend per share increased 5 percent to 4.46 US cents per share.

Separately, UDG Healthcare announced two acquisitions in its Ashfield Communications and Advisory business for a combined consideration of up to $106 million.

The company acquired Putnam Associates, a US-based strategic management healthcare consultancy, for up to $88.6 million, and Incisive Health, a UK-based healthcare policy and communications consultancy, for up to 13.6 million pounds or $17.7 million.

Reflecting the acquisitions and continued trading performance in line with expectations, the company has increased its full year guidance for adjusted earnings per share growth, under IAS 18, to between 5 percent and 7 percent.

The company previously expected adjusted earnings per share to grow between 4 percent to 6 percent from last year's 45.9 U.S. cents.

In London, UDG Healthcare shares were trading at 677 pence, up 3.28 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Major covid vaccine makers said they are investigating Omicron, the new, heavily mutated coronavirus variant that was first detected in South Africa, and working to adapt their vaccines, if needed. The World Health Organization, which named the new variant omicron, said the new strain is a "variant of concern" that could pose a higher risk of reinfection compared to the previous mutations. This Black Friday and the following holiday season, retailers across the United States are urged to keep up their inventory amid expected surge in shopping as majority of Americans wait till last minute to fill their baskets, according to certain studies. A new Oracle Retail survey, which was conducted last week and presented earlier this week, showed that 66 percent of consumers were less than Eagle, Idaho -based Flagship Food Group is recalling certain TJ Farms Select brand frozen cauliflower, citing the potential to be contaminated with Listeria monocytogenes, the U.S. Food and Drug Administration said. The recall involves a limited number of cases of TJ Farms Select cauliflower that comes in 16 oz. packages with lot code 2077890089 and UPC code 75544000604-3.
Follow RTT