Healthcare services group United Drug said it expects operating profit and earnings for the year to the end of September to be in line with market expectations and ahead of the prior year.
In a statement to the stock exchange yesterday, the Dublin-based company said it had seen good trading conditions and strong growth in each of its four divisions.
"The group remains positive about the fundamental dynamics driving consumption of goods and services in healthcare in our core markets and about our positions within those markets," it said. The company also said the growth in the full-year figures, to be released on November 22nd, was helped by a strong performance at its contract distribution joint venture in Britain and the successful integration of acquisitions.
United Drug last year delivered a 16 per cent increase in pretax profits, to €49.2 million - the company's 20th year of double-digit growth.
Revenue increased by 6 per cent to €1.3 billion in the year to the end of September 2005.
Analysts left their forecasts unchanged following yesterday's statement.
United Drug said the three acquisitions completed in the second half of 2005, In2Focus, TD Packaging and Presearch all achieved their targets in their first year as part of the group, following their successful integration into the company.
In the statement, the company also welcomed a return to what it called "more normal" levels of growth at its Northern Ireland wholesale business following the reduction in the price of prescription medicines imposed in 2005 in the UK.
United Drug, which in July announced its fifth acquisition in less than a year, said it continues to see opportunities to expand its manufacturer services division, both organically and through acquisition.
