Sales at the Celesio Ireland healthcare business grew by almost 12 per cent to €578 million last year, the German-owned group has reported.
The owner of the Cahill May Roberts drug wholesaler and the Unicare Pharmacy chain said the turnover figure for 2004 stripped out inter-group sales, which also included its Added Value Services Solutions unit.
The company - which is an employer of 1,154 - said it had spent more than €200 million on acquisitions and the development of its internal systems in the last four years.
While its management team declined to reveal its profit margin, the 2.59 per cent margin at its parent Celesio Group suggests that Irish business could be turning a profit in the region of €15 million.
However, the group margin is unlikely to be strictly comparable because it reflects the operations of a €19 billion business in 15 European markets, many of which are at different stages in their development.
Cahill May Roberts managing director Gary Collins said the company's wholesale turnover last year was €235 million when sales to the Unicare chain were stripped out.
With an overall sales throughput of some €515 million, Mr Collins said Cahill May Roberts had a 24 per cent share of the wholesale market, excluding hospitals.
Unicare managing director Paul O'Hanlon said the chain's sales grew by 8 per cent to €114 million.
Celesio, formerly known as Gehe, entered the Irish market with the acquisition of the Crowley's and Ryan chains.
The group followed those deals with the €152.4 million purchase in 2000 of 29 outlets in the Unicare chain.
The group now has 56 pharmacies, 38 of them in Dublin.
Mr O'Hanlon said Celesio was looking for further opportunities in the market but was conscious of the need to find the right locations for new outlets.
With a financing scheme for new independent pharmacies, who do not trade under the Unicare brand, Celesio said it had helped pharmacists open 34 of 95 new greenfield sites in the past two years.
Celesio said it had financed more than 100 independent pharmacies with a package managed by Cahill May Roberts.
AVS Solutions director Gerard Rabbette said he believed that the unit had a 28 per cent share of the "pre-wholesale" market and 29 per cent of the hospital market.
The unit represents 60 drug-makers throughout Ireland.
