UDG Healthcare forecasts FY earnings per share growth of 18-21%
Source - SMW
UDG Healthcare said it expected to grow its currency-adjusted earnings per share by 18%-to-21% in the 2018 financial year.
Underlying profit growth, however, would be weighted to the second half, given additional operating costs at the Future Fit division and challenging first-half conditions for Sharp.
'As anticipated, Sharp's operating profit was behind the same quarter last year as the unusually high churn evident in the US commercial business during the second half of FY17 carried through into the first quarter of FY18,'UDG said.
Extensive hurricane damage in Puerto Rico also disrupted manufacturing schedules, it added.
'Both factors are expected to abate as the year progresses and the performance of Sharp US is expected to improve during the second half of 2018, driven by an improving business activity pipeline with both new and existing clients,' the company said.
UDG said it remained active from a corporate development perspective and its balance sheet left it well placed to execute further strategic acquisition opportunities.