(Alliance News) -Â UDG Healthcare PLC on Tuesday said it beat full-year earnings per share guidance and lifted its payout.
Shares in UDG were up 4.7% at 785.00 pence in London on Tuesday.
Revenue for the financial year ended September 30 fell 1.4% to USD1.28 billion from USD1.30 billion the year before, though pretax profit climbed 46% to USD108.2 million.
The healthcare services provider took just USD9.4 million in net exceptional items before tax in the recently-ended year, down sharply from USD37.9 million the year before.
Adjusted diluted earnings per share amounted to 47.71 cents, versus 47.31 the year before, ahead of guidance of 43 cents to 45 cents announced in August.
"We are pleased to report a strong and resilient trading performance for FY20, which was ahead of our EPS guidance. This was driven by exceptionally strong growth in Sharp, in particular for serialised biotech and specialty packaging. Despite some parts of Ashfield being impacted by Covid-19, we adapted rapidly to support clients virtually and overall Ashfield performed in line with expectations," said Chief Executive Brendan McAtamney.
Ashfield division revenue fell 6% to USD891.5 million in the year, with adjusted operating profit falling 4% to USD105.2 million. Sharp division revenue, meanwhile, grew 11% to USD387.7 million, and operating profit rose 34% to US60.1 million.
Ashfield provides commercialisation services for the pharmaceutical and healthcare industry, while Sharp operates in the commercial packaging, clinical, manufacturing and technology services for the pharmaceutical and biotechnology industries.
UDG proposed a dividend of 17.00 cents per share, up 1.2% on the year before's 16.80 cents.
McAtamney said: "UDG Healthcare is a strong and well diversified business, underpinned by excellent long-term market fundamentals as evidenced by our strong financial performance in FY20. We have a robust financial position and will continue to leverage our investments in people, technology and infrastructure to remain well positioned for continued future growth."
By Lucy Heming;Â lucyheming@alliancenews.com
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