LONDON (Alliance News) - Healthcare services firm UDG Healthcare PLC said Tuesday its performance in its first quarter saw profit "well ahead" of the year prior, with the firm expecting growth for the full year.
For the three months ended December, constant-currency pretax profit is expected to be "well ahead" of the same period the year prior, without providing specific figures.
This was in line with its previous estimates and follows a "good" start to the year with underlying growth being supplemented by acquisitions in the previous financial year.
The stronger performance was driven by a operating profit at its Sharp clinical services business which was "significantly" ahead of the year prior. This followed continued "strong momentum" in the US as well as a "weak" comparative period the year before.
Meanwhile, its Ashfield healthcare advisory unit also saw operating profit ahead of the same quarter the year prior with the Communications & Advisory unit performing "well."
For the full year ending September, UDG now expects constant-currency adjusted diluted earnings per share to be between 4% to 6% ahead of the USD0.459 reported the year prior.
"The group's strong balance sheet leaves it well placed to make further strategic acquisitions as those opportunities arise, complementing its continued underlying profit growth," UDG added in a statement.
Shares in UDG were 8.1% higher at 603.71 pence on Tuesday.
