UNITED Drug has reported strong growth with a 19 per cent rise in profits to just over £6 million.

The chief executive, Mr Jerry Liston, is also very positive about the current year's position and said trading in the first two months of the current year had been "very strong" in all areas of the business.

The group reported sales growth across all three of its divisions - pharmaceuticals, distribution and consumer products and was able to boost its operating margins from 2.62 per cent to 2.71 per cent.

United Drug shares did not trade even though the results were ahead of forecasts, but on the Dublin market the shares were being quoted at a 354p-360p bid-offer spread.

Prior to the rights issue, United Drug had traded at 358p and the one-for-four issue indicates an ex-rights price for the shares of just under 345p. This indicates the market's contentment with the figures for the year to the end of September.

Earnings per share were up 18 per cent to 22.46p and shareholders are to receive a final dividend of 6.2p per share, which brings the total payout for the year to 9p - marginally ahead of forecasts.