Uniphar records profit despite Covid-19 challenges

Healthcare services group Uniphar overperformed in terms of earnings and profit last year despite challenges presented by the Covid-19 pandemic.

In its full-year results for 2020, the company said profit was in excess of six per cent due to a strong performance in the group’s international divisions — product access, and commercial and clinical.

Uniphar acquired Irish pharmacy chain Hickey’s last year in a deal worth €60 million.

It said this increased Uniphar’s offering to 335 pharmacies.

Uniphar also acquired American healthcare communications company Diligent Health Solutions in a $27 million (€23.1 million) deal.

Stockbroking firm Davy predicts growth of 16.9 per cent in 2021 and 19.3 per cent in 2022 for Uniphar.

Uniphar said it was confident the impacts of Covid-19 on the business would not be as severe in the next two years.

“Our trading update reflects a strong performance for 2020 and I’m very proud of what our team have achieved, and in particular the great resilience and unstinting commitment demonstrated by them throughout this unprecedented and challenging period,” Ger Rabbette, Uniphar chief executive said.

“Progress in the last 12 months has been significant despite the challenging backdrop.”



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