Irish healthcare services company United Drug has said it expects to post double-digit percentage growth in operating profit and earnings for the year to 30 September.
The company said in a trading statement that earnings should be ahead of current consensus market expectations as it experienced good trading conditions and strong revenue growth in each of its four divisions during 2007.
United Drug distributes drugs and medical equipment to pharmacies and hospitals in Ireland, Britain and Europe.
Driving demand
United said a new agreement on drug prices, which came into effect in March "reduced growth in the market” but the company said the transition was 'well managed'.
The Dublin-based company said it remained positive about "the fundamental dynamics" driving demand in its core markets and its positions within those areas despite ongoing challenges from government regulation.
"The group continues to see opportunities to expand its manufacturer services businesses, both organically and through acquisition," it said.
The group will post 2007 results on Nov. 21.
October 4 2007
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