Alliance Pharma plc (AIM: APH), the specialty pharmaceutical company, is pleased to announce its interim results for the six months ended 30 June 2016.
· Half year revenue up 104% at £46.4m (H1 2015: £22.8m)
o Ex-Sinclair products have made an immediate contribution to our results, in line with our expectations and enabling revenues to more than double
o Underlying revenue growth of 6% in the original Alliance portfolio
· Our largest-selling brand is now the scar reduction product, Kelo-cote™, which achieved H1 sales of £4.1m from a widely spread international base
· Hydromol™, our emollient range, maintained its double digit growth rate, with H1 sales of £3.5m
· MacuShield™, our nutritional supplement product for age related macular degeneration (AMD), delivered H1 sales of £2.0m (£1.4m in the five months after we acquired it in February 2015)
· Half year EBITDA up 109% at £13.2m (H1 2015: £6.3m)
· Half year PBT up 113% at £11.7m (H1 2015: £5.5m)
· Basic earnings per share 2.04p (H1 2015: 1.65p)
· Interim dividend up 10% to 0.403p (H1 2015: 0.366p)
· Net bank debt £79.0m (31 December 2015: £71.5m)
o Driven jointly by increases in working capital and Sterling’s weakness
Commenting on the results, Andrew Smith, Alliance Pharma’s Chairman, said:
“Alliance Pharma is a transformed business with sales and profits in the first half of 2016 having doubled from those of 2015. We are already seeing opportunities to exploit our expanded international capabilities. We were delighted to announce yesterday the signing of an EU licensing and distribution agreement for Diclectin with Duchesnay Inc., which provides the opportunity to launch this product in a further nine EU territories. This agreement highlights the potential of our strengthened European base.”Editor's Details
Last updated on: 14/09/2016
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