Uniphar ups full-year dividend as profit falls but revenue climbs

(Alliance News) - Uniphar PLC on Tuesday said it is well positioned for 2024, after reporting a jump in annual revenue.

The Dublin-based healthcare services company reported that revenue in 2023 jumped 23% annually to EUR2.55 billion to EUR2.07 billion.

Pretax profit fell to EUR52.9 million from EUR54.7 million.

Finance costs increased to 15.4 million, compared to finance income of EUR1.4 million a year ago

Uniphar explained that finance costs rose "due to increased levels of borrowing together with the impact of significantly higher interest rates."

On the back of the results, Uniphar pair out a final dividend of EUR0.0119, bringing the total dividend to EUR0.0183, an increase of 5.2% annually.

Looking ahead, Uniphar said it is well positioned to deliver organic gross profit growth across all divisions and to deliver on expectations for the full year.

Chief Executive Ger Rabbette said: "Following early delivery on our IPO targets, we have created a new divisional structure to capitalise on our attractive growth opportunities and are now focused on reaching our ambitious new target of EUR200 million Ebitda over the medium-term."

Shares in Uniphar were up 0.4% at 246.00 pence each in London on Tuesday morning.

By Sophie Rose, Alliance News senior reporter

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