(Alliance News) - Alliance Pharma PLC on Tuesday reported a narrowed loss for 2024 despite a decline in revenue, due to a reduction in impairment charges.
The Chippenham, Wiltshire-based distributor of consumer healthcare brands and prescription medicines said its pretax loss narrowed to GBP14.5 million in 2024 from GBP48.8 million in 2023.
Revenue declined 1.1% to GBP178.8 million from GBP180.7 million, while cost of sales was reduced by 8.1% to GBP69.6 million from GBP75.7 million.
Alliance Pharma recorded an impairment of goodwill and intangible assets charge of GBP38.9 million for the year, down 51% on-year from GBP79.3 million. The group also delivered a one-off GBP2.0 million profit on the disposal of intangible assets.
The group declared no dividend for 2024, unchanged from 2023.
"2024 has been an important year for Alliance as we implemented the necessary changes to accelerate decision making and to bring the consumer closer to the heart of the business," said Chief Executive Officer Nick Sedgwick.
"I am delighted by the number of highly skilled senior managers that have joined Alliance, many of whom have already made a significant impact on the business, and I see further opportunity to deliver efficiency gains and capability improvements over time."
Shares in Alliance Pharma were up 0.2% at 64.20 pence in London on Tuesday morning. The stock has risen 72% over the past year.
By Emily Parsons, Alliance News reporter
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