Momentum continues into new year for Uniphar

Healthcare services company Uniphar updated the market on its trading on Wednesday, having outperformed expectations in its final results for 2020.

The AIM-traded firm, which was holding its annual general meeting, said it was continuing to execute on its strategy of building out its global product access platform and a pan-European platform in commercial and clinical through a combination of organic growth and mergers and acquisitions, while strengthening its “market-leading position” in supply chain and retail.

Chairman Maurice Pratt noted that during 2020 the company completed a number of acquisitions, including the Hickey's Pharmacy Group, Innerstrength, and two US acquisitions in Diligent Health Solutions and RRD International.

“The significant progress made during the year is reflected in the financial performance, with Uniphar achieving 20.3% growth in gross profit, EBITDA growth of 13.9% and ending the year with strong liquidity and modest leverage of 0.6x,” Pratt said.

“The Covid-19 outbreak in 2020 highlighted the significant role Uniphar plays in the healthcare infrastructure in the markets we serve.”

Uniphar’s “strong momentum” had continued into 2021, Pratt said, with the group trading well, pivoting to respond to the changes and challenges caused by the pandemic in its markets.

He said the board remained confident of delivering its current year plan, as well as its medium-term guidance.

“Looking forward, the board will continue to build on the excellent progress made this year in the areas of corporate governance and sustainability, whilst maintaining focus on the group's strategic priorities, with the business and management team remaining committed to maximising the full potential of our recent acquisitions and delivering long term value for shareholders.”

At 1027 BST, shares in Uniphar were down 0.77% at 257p.