Good start for UDG as company reports quarterly profits ahead of 2019

FTSE-listed international healthcare services provider UDG Healthcare said it had a good start to its financial year, with profit before tax ahead of the first quarter of last year.

In the period covering October 1st to December 31st 2019, its Ashfield unit saw operating profit rise, driven by underlying growth and the benefit of 2019 acquisitions. The company’s Communications & Advisory business also performed strongly, with operating profit ahead of the same quarter last year. Its Commercial & Clinical business saw the impact of restructuring.

UDG’s Sharp unit said operating profit was ahead of a strong comparative quarter last year, with the business trading in line with expectations.

The group also issued guidance for its full year and adjusted diluted earnings per share on a constant currency basis to be 7 per cent and 9 per cent ahead of last year’s 47.3 cents.

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UDG also said it had appointed life sciences entrepreneur Liz Shanahan as a non-executive director, taking the role from February 1st. Ms Shanahan was global head of healthcare and lifesciences at NYSE-listed FTI Consulting until 2014. Prior to that, she founded Santé Communications.