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Press Release

Interim Results for the six months ended 30 June 2017

Alliance Pharma
Posted on: 14 Sep 17

Alliance Pharma plc (AIM: APH), the specialty pharmaceutical company, is pleased to announce its interim results for the six months ended 30 June 2017.

 

Financial Highlights

  • Revenue up 8% to £50.3m (H1 2016: £46.4m)
    • Kelo-cote™ up 52% to £6.2m (H1 2016: £4.1m)
    • MacuShield™ up 67% to £3.4m (H1 2016: £2.0m)
  • EBITDA* up 3% to £13.6m (H1 2016: £13.2m)
  • Free cash flow (excluding Sinclair settlement)* up £9.0m to £11.1m (H1 2016: £2.1m)
    • Working capital normalisation following the Sinclair Healthcare Products acquisition
  • Leverage (adjusted net debt to EBITDA ratio) of 2.4 times (31 December 2016: 2.8 times)
  • Net debt* reduced by £12.7m to £63.4m (H1 2016: £76.1m)
  • Interim dividend up 10% to 0.443p (H1 2016: 0.403p)

* See note 15

 

Operational Highlights

  • Strong growth from our international brands, Kelo-cote and MacuShield, underlining the exciting potential of these products
  • Infrastructure and management teams developed and strengthened, supporting continued growth and acquisitions
  • Strong cash generation with leverage continuing its reduction profile, on current trends, to 2 times by year-end

 

Commenting on the results, Andrew Smith, Alliance Pharma’s Chairman, said:

“Following a transformational 2016, the business has performed well in the first half of 2017. With the integration of the Sinclair Pharma products now complete we are strategically positioned for growth and, with leverage levels reducing, we are now able to pursue bolt-on acquisitions.”

 

Analyst meeting

A meeting for analysts will be held at 11.00am this morning, 13 September 2017, at the offices of Buchanan, 107 Cheapside, London EC2V 6DN. For further details, please contact Buchanan on 020 7466 5000.

 

For further information:

 

Alliance Pharma plc

+ 44 (0) 1249 466966

John Dawson, Chief Executive Officer

Peter Butterfield, Deputy Chief Executive Officer

Andrew Franklin, Chief Financial Officer

 

www.alliancepharma.co.uk

 

Buchanan

+ 44 (0) 20 7466 5000

Mark Court / Sophie Cowles

Editor's Details

Mike Wood
PharmiWeb.com
www.pharmiweb.com
editor@pharmiweb.com

Last updated on: 14/09/2017

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