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Alliance Pharma announces its results for 2014

Posted: 25 March 2015 |

Alliance Pharma plc, the speciality pharmaceutical company, has announced its results for 2014. Figures show a modest dip in sales and profit…

alliance sales results

Alliance Pharma plc, the speciality pharmaceutical company, has announced its results for the year ended 31 December 2014.

alliance sales results

Financial Highlights

  • Revenue £43.5m (2013: £45.3m)
  • Pre-tax profit £10.8m* (2013: £12.0m)
  • Adjusted EPS 3.36p* (2013: 3.82p)
  • Free cash flow £10.3m (2013: £8.2m)
  • Net bank debt £21.1m (2013: £25.2m)
  • Low gearing with Debt to EBITDA ratio of 1.6 times
  • Proposed dividend:
    • Final dividend up 10% to 0.667p per share (2013: 0.605p)
    • Full year dividend up 10% to 1.000p per share (2013: 0.908p)

Operational Highlights

  • Irenat™ acquisition in January 2014
  • MacuShield™ acquisition in February 2015
  • Hydromol™ continues to demonstrate good growth, achieving year on year sales growth of 15%
  • Ashton & Parsons Infants’ Powder™ sales achieve very significant growth to £1.4m (2013: £0.4m) as a result of product redesign and improved supply

Alliance sales dip in a “challenging year”

Commenting on the results, Andrew Smith, Alliance’s Chairman, said: “In 2014 Alliance performed well, taking only a modest dip in sales and profits in a challenging year, which underlines the resilience of our business. We enter 2015 well placed for resumed growth. The recent acquisition of the fast-growing MacuShield brand together with the expected return of ImmuCyst™ in the second half of this year add to the growth drivers of our portfolio.”

* Before exceptional item, being impairment of Pavacol-D intangible

Note: 2013 figures restated for impact of adopting IFRS 11 Joint Arrangements

For more information about Alliance, please visit www.alliancepharma.co.uk.

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