Updates

UDG Healthcare

July 2018

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.

UDG’s half year results were slightly ahead of forecasts with revenues growing 17% to US$675m and pretax profit rising 19% to US$67m. Eps of 20.2 cents were 4% ahead of forecast.Sharp, which packages and labels pharmaceuticals products such as cartons and blister packs, saw profits fall 2% to US$18.9m driven by project churn but operating margins of 13.3% beat forecasts.Within Ashfield, which promotes new drugs to physicians and provides healthcare communications, profits soared 25% to US$45.6m (operating margin: 9.5%) thanks to strong underlying growth and acquisitions.Net debt was US$46.6m, down from US$53.3m and with debt to EBITDA just 0.28 times, there’s plenty of firepower for more deals.Peel Hun ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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