United Drug posts 7% profit rise and looks to acquisitions

UPDATE: United Drug has posted a 7 per cent operating profit and its finance director Barry McGrane said that it may spend up to €200m on acquisitions in next 12 months.

9th May, 2012
United Drug finance director Barry McGrane with company chief executive Liam FitzGerald.

United Drug has posted a 7 per cent operating profit on 2 per cent revenue growth to €894 million, in its interim results for 2011.

A short time ago, the company's share price was down 0.9 per cent in Dublin, although Goodbody Stockbrokers maintained a Buy recommendation on the stock saying: "we are encouraged by the earnings progression."

“It is a return to good earnings growth,” United Drug finance director Barry McGrane told the *Daily Business Post* this morning....

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