Business
Union Diagnostic Records High Performance
Union Diagnostic and Clinical Services Plc recorded impressive performances in all its market indicators for the financial year ended December 31, 2008.
An extract from the company’s 2008 financial report, which was made available to the public indicated that its turnover increased by 89 per cent from N545.78 million in 2007 to N1.03 billion in 2008.
Equally, profit before tax grew from N314.57 million to N709.89 million about 126 per cent growth while profit after taxation went up by 45 per cent from N255.08 million to N370.09 million.
The company is proposing a dividend payout of 8 kobo per share and a bonus of one new share for every five ordinary shares held by its shareholders.
The closure date will be September 9, 2009. The impressive result further solidifies the company’s reputation as a reliable investment that has surpassed forecasts and analysts’ expectation.
Earnings per share grew by 13 per cent to 12 kobo from N9 in 2008.
According to the Managing Director of the Company, Dr Olusola Akinniyi, noted that the performance was achieved through a combination of factory, including capacity optimisation, branch expansion, attractive pricing, and value added services.
The company recently acquired the capacity for DNA testing in conjunction with DF Medical (Italy).
It also receives referrals from over 1,000 hospitals every month and handles the largest workload in the country.
It would be recalled that the company was admitted on the NSE on September 12, 2008.