UDG Healthcare reports 24% in profits

Business, Finance | Tue 24 Nov | Author – Business & Finance
Liam Fitzgerald
Liam FitzGerald, CEO, UDG Healthcare

International healthcare services provider, UDG Healthcare, has announced a 24% increase in pre-tax profits for the year to the end of September.

The Group reported an adjusted operating profit growth of 17% to €120.3m, while a strong cash generation from operations was also seen, increasing by €73.7m to €137.4m.

The company also delivered a good underlying cashflow performance for the year, which leaves the Group well positioned to support its future growth objectives both organically and through acquisition.

Liam FitzGerald, CEO, UDG Healthcare, said: “2015 has been another year of substantial financial and strategic progress for UDG Healthcare. The Group delivered strong underlying growth and benefited from currency movements, resulting in profit before tax increasing by 24% and EPS up 21% on the prior year. Group operating margins of 5.2% continued to expand and exceeded our strategic target of 5% for the first time. The Group’s continuing businesses increased profits by 43% and had an adjusted operating margin of 10.7% in the year.”

He continued: “We continue to experience growing demand for our specialist services from our healthcare industry clients. The Group has considerable long-term financing facilities available and good internally generated cash flows to support our growth objectives. We remain very positive about our long-term growth prospects.”