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(Sharecast News) - Uniphar reported a strong performance for the first half of 2025 on Tuesday, achieving double-digit adjusted earnings per share growth, surpassing its own expectations.
The AIM-traded company experienced around 8% organic gross profit growth, supported by lower finance costs.
It said its pharmaceutical division, Uniphar Pharma, delivered double-digit organic gross profit growth during the period and remains on track to achieve similar growth for the full year.
Uniphar Medtech, meanwhile, achieved high single-digit organic gross profit growth, with expectations for high single-digit growth for the full year remaining unchanged.
The company said its Uniphar Supply Chain & Retail operation recorded low single-digit organic gross profit growth in the first half, maintaining its trajectory for the full year.
Uniphar continued to demonstrate strong liquidity, with a net bank debt-to-EBITDA ratio of 1.9x as of June.
The firm also completed its 35m share buyback programme, which was initially announced with the 2024 full-year results.
Looking ahead, Uniphar said it was optimistic about its continued momentum in the second half of the year.
Declining interest rates were expected to further reduce finance costs, providing a positive tailwind to current year earnings per share expectations.
The company said it was committed to its growth strategy, with mergers and acquisitions continuing to play a significant role.
Uniphar said it was actively managing a pipeline of acquisition opportunities, maintaining a disciplined approach to capital allocation.
"Uniphar has had a strong first half, achieving significant organic gross profit growth," said chief executive Ger Rabbette.
"We expect to continue this progress into the second half and meet our growth objectives for each of our three divisions for the full year.
"We remain confident of reaching our 200m EBITDA target by 2028, with at least 80% of our growth being organic."
Uniphar said it would publish its interim results for the six months ended 30 June on 2 September.
At 1426 BST, shares in Uniphar were up 2.18% at 337.21p.
Reporting by Josh White for Sharecast.com.