Updates

UDG Healthcare - Shares hit new high of 837p

July 2017

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Interim results were 5% ahead of eps forecasts, triggering another pleasant round of upgrades. Earnings before interest and tax rose 13% to US$58.8m and would have been up 21% bar negative currency headwinds from strong Euro vs sterling. Eps rose by an underlying 19% (or 29% constant currency) but fell 21% to Eu 16.2 cents, reflecting the sale of the United Drug businesses in April 2016.Ashfield, UDG’s contract sales outsourcing business, which runs a healthcare / pharmaceuticals firm’s sales and marketing functions, grew revenues 12%, helped by the acquisition of STEM Marketing, while operating margins grew 0.7% to 12.6%. Analysts expect organic growth to accelerate as recently won contracts in the US kick in. Ashfield ...

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