Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Uniphar ends year in line with expectations

(Sharecast News) - Pharmaceutical and medical technology service company Uniphar said in an update on Tuesday that its performance in 2023 met its own expectations in terms of gross profit and EBITDA, while also achieving normalised free cash flow conversion in line with medium-term guidance. The AIM-traded firm said it achieved organic gross profit growth exceeding 5% during the year.

It added that it maintained a robust liquidity position, with net debt lower than anticipated at the end of the year.

Looking ahead, Uniphar said it was well-positioned for organic gross profit growth across all of its divisions.

In line with the group's new medium-term targets, it said it aimed to achieve double-digit growth in organic gross profit for Uniphar Pharma in 2024, with high single-digit growth for Uniphar Medtech, and low single-digit growth for Uniphar Supply Chain and Retail.

The company also emphasised that mergers and acquisitions would continue to be a significant part of its growth strategy.

"Today's trading update reflects a strong performance by the group in 2023," said chief executive officer Ger Rabbette.

"Following early delivery on our initial public offering targets, we have created a new divisional structure to capitalise on our attractive growth opportunities and are now focused on reaching our ambitious new target of €200m EBITDA over the medium-term."

Uniphar said it would publish its final results for the year ended 31 December on 27 February.

At 1043 GMT, shares in Uniphar were up 1.49% at 226.32p.

Reporting by Josh White for

Share this article

Related Sharecast Articles

Easyjet suspends flights to Israel until October
(Sharecast News) - Budget carrier easyJet on Tuesday said it had suspended flights to Tel Aviv until October 27 after Iran's missile and drone attack against Israel on Saturday night.
Berenberg stays at 'buy' on Yellow Cake on tight supplies and supply risk
(Sharecast News) - Analysts at Berenberg stood by their 'buy' recommendation for shares of Yellow Cake, the uranium oxide concentrate holding company, following a fireside chat with its boss, Andre Liebenberg.
Bank of America upbeat despite profits slide
(Sharecast News) - Bank of America said it had seen a "strong" first quarter on Tuesday, despite posting a sharp fall in profits.
Berenberg lowers target price on Kainos
(Sharecast News) - Analysts at Berenberg lowered their target price on software company Kainos from 1,315.0p to 1,260.0p on Tuesday following the group's full-year trading update on 15 April.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.