UDG Healthcare increases its 2018 interim dividend by 19%
UDG Healthcare 2018 interim results
adjusted diluted earnings per share (EPS) increased by 24% (21% on a constant currency basis).
Guidance reiterated for FY18 constant currency adjusted EPS1 growth of between 18% and 21% over last year's EPS of 37.1 $ cent.
Net revenue growth of 17% (11% on a constant currency basis) to $568.7 million.
Adjusted operating profit1 growth of 15% (11% on a constant currency basis) to $67.4 million. Adjusted net operating margin2 declined marginally from 12.0% to 11.8%.
Adjusted profit before tax1 up 19% (16% on a constant currency basis).
Ashfield's operating profit1 increased by 25% (18% on a constant currency basis) driven by the benefit of acquisitions completed in FY17. Ashfield would have generated 6% underlying operating profit growth during the period if the impact of Future Fit was excluded.
Sharp's operating profit was 2% behind the prior period. A good second quarter trading performance did not fully offset a weak first quarter.
Net debt of $46.6 million at 31 March 2018 (0.28 times net debt to EBITDA), providing significant capacity to execute strategic acquisitions.
19% increase in interim dividend to 4.25 $ cent per share.
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