Uniphar ups dividend as annual profit grows healthily; intends buyback

Uniphar PLC on Tuesday said it remained well positioned for continued gross profit growth in each unit as it is confident in delivering on current market expectations.

The Dublin-based healthcare services company said pretax profit grew 43% to €75.6 million in 2024 from €52.9 million in 2023.

Profit before exceptional items climbed 15% to €61.1 million from €53.3 million.

Uniphar reported an exceptional gain of €14.5 million in 2024, compared to a loss of €423,000 in 2023.

Gross profit climbed 9.6% to €427.6 million from €390.0 million.

Earnings before interest, tax, depreciation and amortisation grew 6.4% to €123.5 million from €116.0 million.

Revenue rose 8.5% to €2.77 billion in 2024 from €2.55 billion in 2023.

Uniphar declared a final dividend of 1.25 euro cents per share, up 5.0% from 1.19c a year ago. This brings the total payout for 2024 to 1.92c, up 4.9% from 1.83c in 2023.

Further, the company said it intends a share buyback programme of €35 million, compared to no such programme when it had announced its 2023 results.

For 2025, Uniphar expects continued ‘strong’ organic gross profit growth across all divisions, giving it confidence towards its €200 million Ebitda target for 2028.

‘Mergers & acquisitions will continue to play an important role in Uniphar’s growth strategy, and the group continues to have a disciplined approach to capital allocation while managing an active pipeline of acquisition opportunities to further enhance the group’s growth potential,’ it said.

Uniphar shares rose 2.0% to 205.00 pence each on Tuesday morning in London.

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