Pharmaceutical distribution company United Drug remains in sound financial health , the latest prescription being for "steady growth" after the improvement in earnings last year. Results this week show a 22 per cent rise in pre-tax profits to £7.3 million. in the year to end September last. Having acquired Dublin Drug last month the group remains alive to further acquisitions, although no likely candidate is as yet in sight. Operations in the Republic and Northern Ireland performed well, the group benefiting from major extensions to distributions centres in Dublin and Belfast.
Group strategy this year is to fully integrate Dublin Drug and extract benefits from UDG, the joint venture operation with UniChem after the bitter pill of swallowing its proportion of £313,000 in start-up losses.
Shareholders will be content to continue taking the dividend tablets, total payment honey-coated by a 10 per cent improvement in payout to 9.90p a share.
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