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UDG Healthcare Q3 Profit Down, Reinstates FY20 View, Declares Dividend; Names Chair; Stock Up

UDG Healthcare plc (UDG.L) reported Wednesday that its third-quarter Group constant currency profit before tax was below the same period last year, while it remained ahead of the prior year in the nine-month period.

In its trading update, the company said its third-quarter profit was hurt by coronavirus pandemic, while the benefits of acquisitions completed in 2019 and modest underlying growth helped nine-month result.

Further, the company reinstated its financial guidance for fiscal 2020, which was suspended in April in response to uncertainty due to COVID-19. The company expects adjusted earnings per share for the year to September 30 to be between 43 US cents and 45 US cents.

Citing strong liquidity position and improved trading visibility, UDG Healthcare has declared an interim dividend of 4.46 US cents per share, in line with the 2019 interim dividend.

The Board continues to keep the decision to pay a final dividend for the full year 2020.

The company expects to issue its preliminary results for the twelve months on November 24.

Separately, the healthcare services provider announced the appointment of Shane Cooke, an independent Non-Executive Director, as its Chair with effect from October 1.

Cooke will succeed Peter Gray, who retires from the Board on September 30 after more than eight years as Chair and 15 years as a Director of the Company.

Shane joined the UDG Healthcare Board on February , 2019 and was later appointed Chair of the Risk, Investment and Financing Committee on January 28, 2020.

In London, UDG Healthcare shares were trading at 740.50 pence, up 4.66 percent.

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