Strong revenue growth for Celesio

German pharmaceutical group Celesio has reported strong revenue growth at its Irish operations in the first nine months of the year.

The firm, which operates through the Cahill May Roberts and Unicare brands in the Republic, recorded a 10.9 per cent increase in sales at its wholesale operations, to €244 million. Pharmacy revenues, meanwhile, rose 6.5 per cent, to €93 million.

The Stuttgart-based company didn't break out profit figures for its Irish operation, but said yesterday that group pretax profit was €451.8 million in the nine months to the end of September, a 2 per cent increase on the same period last year. Group sales were €16.6 billion, an increase of 4.4 per cent.

For the third quarter, pretax profit was €143.7 million, down 5 per cent, while sales slipped 2.2 per cent, to €5.4 billion.

In a statement, the company said the third quarter proved weaker than the prior quarter. "Since July 1st, 2007, the reduction in reimbursement prices for medicines has negatively affected growth in the UK," it said.

© 2007 The Irish Times

This article appears in the print edition of the Irish Times