TIDMUDG
RNS Number : 1560I
UDG Healthcare Public Limited Co.
07 August 2019
UDG HEALTHCARE PLC
THIRD QUARTER TRADING UPDATE
Full year guidance reiterated
7 August 2019: UDG Healthcare plc ("the Group"), a leading
international provider of healthcare services, issues the following
trading update covering the period from 1 April 2019 to 30 June
2019. All commentary is on an IAS 18 basis.
Quarter to 30 June 2019
Group constant currency profit before tax for the quarter to 30
June 2019 was well ahead of the same quarter last year. This
reflects underlying growth and the benefit of acquisitions.
Ashfield
Ashfield's operating profit was significantly ahead of the same
quarter last year.
Ashfield Communications & Advisory performed strongly in the
quarter driven by strong underlying growth and the benefit of
acquisitions. Ashfield Commercial & Clinical traded in line
with expectations with operating profit behind the same quarter
last year.
Sharp
Sharp revenues were ahead of the same quarter last year driven
by increasing demand for the packaging of serialised biotech and
speciality products. However, operating profit in the quarter
declined compared to the prior year as additional resource inputs
associated with this accelerated demand ramp up in the US
commercial business negatively impacted margins.
For the full year, Sharp is expected to deliver double-digit
revenue growth and mid-single digit underlying operating profit
growth. With additional resources now in place and given the
strength of its pipeline, Sharp is well positioned to return to
normalised operating profit growth in FY20.
Nine months to 30 June 2019
Group constant currency profit before tax for the nine months to
30 June 2019 was ahead of the prior year driven by a combination of
underlying growth and the benefit of acquisitions.
Group Outlook
The Group reiterates its full year guidance for constant
currency adjusted diluted earnings per share (EPS)(1) growth, for
the year to 30 September 2019 to be between 5% and 7% ahead of last
year's EPS of US$ 45.9c(2) .
(1 Before the amortisation of acquired intangible assets,
transaction costs and exceptional items.)
2 The new revenue recognition standard (IFRS 15 'Revenue from
Contracts with Customers') is effective for the Group from 1
October 2018. The Group adopted the new standard under the modified
retrospective transition approach. Under this transition method,
the new standard is applied from 1 October 2018 without restatement
of comparative period amounts.
Date for Preliminary Results
The Group expects to issue its preliminary results for the
twelve months to 30 September 2019 on Tuesday 26 November 2019.
Conference Call
UDG Healthcare plc will host a conference call for investors and
analysts at 8am (BST) today, Wednesday 7 August to discuss this
statement. The dial-in details are as follows:
Standard International Access: +44 (0) 20 3037 9299
UK Toll Free: 0800 368 2555
Ireland local: +353 (0) 1 436 0959
Ireland Toll Free: 1 800 930 488
Password: UDG Healthcare
A playback facility will be available for seven days on +44 (0)
203 451 9993. The access code for the replay will be 9471508#.
Forward looking Statements
Some statements in this announcement may be forward-looking
statements. They represent expectations for the Group's business,
including statements that relate to the Group's future prospects,
developments and strategies, and involve risks and uncertainties
both general and specific. The Group has based these
forward-looking statements on assumptions regarding present and
future strategies of the Group and the environment in which it
anticipates operating in the future. However, because such
statements involve known and unknown risks, uncertainties and other
factors including but not limited to general economic, political,
financial and business factors, which in some cases are beyond the
Group's control, you should note that actual results, performance,
operations or achievements expressed or implied by such
forward-looking statements may differ materially from those
expressed or implied by such statements and accordingly you should
not rely on such forward-looking statements in making investment
decisions. Except as required by applicable law or regulation,
neither the Group nor any other party intends to update or revise
any such forward-looking statements after the date these statements
are published, whether as a result of new information, the passage
of time, any future events, or otherwise.
For reference:
Investors and Analysts:
Keith Byrne
Head of Investor Relations, Strategy & Corporate
Communications
UDG Healthcare plc
Tel: + 353-1-468-9000
Media:
Lisa Kavanagh / Jack Hickey
Powerscourt
Tel: +44-207-250-1446
About UDG Healthcare plc:
UDG Healthcare plc (LON: UDG) is a leading international partner
of choice delivering advisory, communication, commercial, clinical
and packaging services to the healthcare industry, employing 9,000
people with operations in 26 countries and delivering services in
over 50 countries.
UDG Healthcare plc operates across two divisions: Ashfield and
Sharp.
Ashfield - Ashfield is a global leader in commercialisation
services for the pharmaceutical and healthcare industry, operating
across three broad areas of activity: advisory, communications and
commercial & clinical services. It focuses on supporting
healthcare professionals and patients at all stages of the product
life cycle. The division provides field and contact centre sales
teams, healthcare communications, patient support, audit, advisory,
medical information and event management services to over 300
healthcare companies.
Sharp - Sharp is a global leader in contract commercial
packaging and clinical trial packaging services for the
pharmaceutical and biotechnology industries, operating from
state-of-the-art facilities in the US and Europe.
The company is listed on the London Stock Exchange and is a
constituent of the FTSE 250.
For more information, please go to: www.udghealthcare.com.
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END
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