Uniphar shares gained 1.7% to 302.5p in late morning trading on Tuesday, after the company reported a 2.8% revenue increase to €991 million in HY1 2022 against €964 million the year before.
The firm announced an 8.8% gross profit climb to €146 million compared to €134 million, alongside a gross profit margin rise to 14.7% from 13.9%.
Uniphar noted a gross profit increase across all divisions, including outperformance in Supply Chain & Retail with a 5.2% organic growth.
Meanwhile, pre-tax profits before tax excluding exceptional items soared 9.9% to €26 million against €123 million in HY1 2021, despite inflationary headwinds.
Uniphar highlighted a 9.2% EBITDA growth to €44 million against €41 million, and a 6.2% operating profit rise to €25 million from €23 million.
The group noted a net bank debt of €73 million compared to €30 million year-on-year.
The company confirmed a basic EPS of 5.9c from 5.7c in the previous year, and an adjusted EPS of 8.4c against 7.1c.
“The Group has performed strongly during the period delivering Adjusted Earnings per Share growth of 18%. Each division has delivered organic gross profit growth, underpinned by a strong team performance across the board, with an outperformance in Supply Chain & Retail. The Group has leveraged its scale and diverse service offering to help mitigate inflationary pressures which continue to be a challenge across the globe,” said Uniphar CEO Ger Rabbette.
“Additionally, we have completed the acquisition of Orspec Pharma, marking our entry into the strategically important Asia-Pacific region. Orspec, headquartered in Australia, will support our goal of becoming a global leader in Product Access services through the provision of Expanded Access Programs and the delivery of unlicensed medicines.”
“We remain confident and are on track to achieve our strategic objective of doubling 2018 pro-forma EBITDA within five years of IPO”
Uniphar recommended an interim dividend of €0.0061 per ordinary share.
