MONEY in the bank and a BMW on the drive are no protection against hypertension if half year figures from pharmaceutical distributor United Drug this week are taken at face value. Retail sales of its drug products increased 12 per cent, compared to an overall market growth of 11 per cent.
A generally robust economy was instrumental in assisting United Drug to profits of £2.7 million in the half year to end March last, a 17 per cent improvement over the previous comparable period. Turnover rose 16 per cent to £120 million.
With current trading satisfactory, the company diagnosis is a clean bill of financial health, with chairman Martin Rafferty promising "another record year of turnover, profits earnings per share and dividend".
Supported by earnings per share 16 per cent to the good at 10.09p, United Drug has improved its shareholders' financial health by paying a 10 per cent higher interim dividend of 2.8p a share.