Healthcare services group Uniphar said earnings were “in line with group’s expectations” after a strong half-year performance.
In a trading update for the six months to the end of June, Uniphar said the business achieved 11 per cent adjusted earnings per share (EPS) growth with approximately 7 per cent organic gross profit growth.
It said growth was achieved in all three of the group’s divisions; Uniphar Pharma; Uniphar Medtech and Uniphar Supply Chain and Retail.
“Uniphar enters the second half of the year with strong trading momentum across the group, and underlying trading expectations for the year remain unchanged,” the company said.
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Uniphar said its new high-tech distribution facility in Ireland will now go live in February 2027, with a phased roll-out during the first six months.
“This extended timeline allows for additional end-to-end testing and minimises execution risk during the group’s seasonal peak trading period in the fourth quarter,” it said.
As a result, the project will require incremental capital expenditure of approximately €20 million, it said.
The company said it continues to maintain a strong liquidity position, with net bank debt over earnings at 2.4 at the end of June, “reflecting the expected unwind of previously communicated favourable working capital movements”.
Ger Rabbette, Uniphar group chief executive said: “Uniphar has delivered a strong first half, with continued organic gross profit growth across the Group.”
“Trading continues to be robust and the business is developing in line with our expectations,” he said.
“We expect to sustain this progress into the second half and remain on track to meet our growth objectives for each of our three divisions for the full year,” he said.
“We also remain confident in our ability to reach our €200 million EBITDA target by 2028, with at least 80 per cent of growth expected to be organic," Rabbette said.
Davy Stockbrokers said Uniphar’s trading statement for H1 2026 reflects strong operating performance.
“The outlook is positive on all divisions. The timing of going live on Greenogue II (distribution centre) has been extended to reduce execution risk in Q4,” it said.
“Overall, we will be upgrading our FY2026 forecasts once again with no change to our other forecasts,” it said.
