UDG Healthcare suspends interim dividend; forecasts tougher second half

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Healthcare services provider UDG Healthcare said it had recorded a 'strong' first-half performance, though it warned the Covid-19 crisis would weigh in the second half and suspended its interim dividend.

Pre-tax profit on a constant currency basis in the six months through March was 'well ahead' of the prior year, the company said.

'Our balance sheet remains robust and we are taking a number of decisive actions to support our people, our customers and the long-term future of our business,' chief executive Brendan McAtamney said.

' We have confidence in the market fundamentals that underpin our business, and I have no doubt the actions we are taking now will ensure we emerge from this crisis well placed to deliver renewed strong growth over the medium term.'

Other cost saving measures adopted by UDG included a 20% pay cut for directors and senior executives for at least the next three months.