(Alliance News) - UDG Healthcare PLC on Monday said it expects to post a significant rise in earnings for its current financial year as its divisions delivered a first quarter performance ahead of the prior year.
The FTSE 250 healthcare services provider - which has its general meting scheduled for Tuesday - stated it expects adjusted operating profit for the first quarter to December 31, 2020 to be ahead year-on-year.
As a result, it anticipates that for its financial year ending September 30, constant currency adjusted operating profit will be between 11% to 13% ahead of the USD165.3 million reported in financial 2020. Constant currency adjusted diluted earnings per share is also expected to be between 9% to 11% ahead of the USD47.7 cents recorded the year prior.
UDG said the strong performance was aided by the Ashfield division as well as the Sharp division. In particular, Sharp saw strong demand from biotechnology companies for specialty packaging services across both its Commercial and Clinical businesses.
Ashfield is a healthcare services business that helps clients bring healthcare products to market. Sharp provides contract commercial packaging and manufacturing services for pharmaceutical and biotechnology firms.
Results for the six months to March 31 will be published on May 18.
Shares in UDG Healthcare were trading 3.4% higher at 807.00 pence each on Tuesday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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