Alliance Pharma PLC - pharmaceutical company based in Wiltshire - For first half of 2020 posts pretax profit of GBP629,000, a sharp dive from GBP15.2 million the year prior. Sees revenue fall 6.5% year-on-year to GBP61.7 million from GBP66.0 million. Amortisation of intangible assets costs at GBP3.6 million, up from GBP107,000 and impairment of goodwill and intangible assets at GBP12.1 million from GBP284,000.
Maintains interim dividend of 0.536 pence.
Looking ahead, Chief Executive Peter Butterfield says: "We are now starting to see further signs of recovery and expect trading to continue to recover as we move through the remainder of the year. The second half of the year has started well and, whilst the global uncertainty created by Covid-19 is likely to continue for some time, based on current management forecasts and trading in the year to date, the board expects full year results to be in line with market expectations.
Cash at June end is GBP20.5 million
Current stock price: 73.54 pence
Year-to-date change: down 12%
By Ife Taiwo; ifetaiwo@alliancenews.com
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Alliance Pharma (APH)