UDG reports ‘satisfactory’ performance

Healthcare services company said revenues for the quarter were ahead of last year

Drug distributor UDG Healthcare has reported a satisfactory performance for the three months to December 31. Photo: Bloomberg

Drug distributor UDG Healthcare has reported a satisfactory performance for the three months to December 31. Photo: Bloomberg

Tue, Feb 4, 2014, 09:46

Healthcare services company UDG Healthcare has reported a “satisfactory” performance for the three months to December 31, the first quarter of its financial year.

In an interim management statement this morning, the company said revenues for the quarter were ahead of the same period last year.

The group said that based on the underlying trading performance for the year to date, and the outlook for the remainder of the year, it expects adjusted diluted earnings per share for the year to September to be between 2-5 per cent ahead of last year.

Excluding the increased private placement financing costs and the one-off re-branding costs, underlying EPS growth for the year is expected to be 8 per cent to 11 per cent.

UDG said it expects to deliver another good cash flow performance in the year, although this will be weighted towards the second half of the year due to the timing of cash inflows.

“When combined with modest debt levels relative to earnings and significant financing facilities, this leaves the group well positioned to support its future growth objectives both organically and through acquisition,” the company said.