United Drug reports first-quarter rise in packaging profit

In an interim management statement, United Drug said that profits in the packaging and speciality division were “well ahead” of the first quarter of last year on the back of strong trading in the US.

However, this is partially offset by European trading that is slightly lower than last year.

“Despite positive indications, volumes in the UK business that were taken in house by a manufacturer client have not yet returned to previous level,” the firm said.

Nonetheless, this paints an improved picture on 12 months ago when the firm revealed that the division had experienced some delay in the release of packaging orders, particularly in the US, and was bracing for a difficult year.

Overall, the Dublin-based healthcare services firm said it was encouraged by the third quarter performance as trading was well ahead of last year and expects pre-tax profits for the year to 30 September to be in line with last year.

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