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9 Jul 2014 07:00
For immediate release | 9 July 2014 |
ALLIANCE PHARMA PLC
("Alliance" or the "Company")
Pre-Close Trading Update
Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, announces its pre-close trading update ahead of the announcement of its interim results for the six months ended 30 June 2014.
Trading for the first half of the year has been in line with management's expectations, with total turnover including share of joint ventures of approximately £22.5 million (2013: £22.8 million). Group turnover excluding share of joint ventures was approximately £21.4 million (2013: £22.8 million).*
Hydromol™ continues to grow well, with sales of £3.0 million in the period, 15% higher than in the same period the previous year.
Sales of Ashton & Parsons Infants' Powder™ reached £0.7 million in the period, compared with just £0.1 million in the same period the previous year, when production capacity was severely constraining our ability to meet demand.
Sales of Nu-Seals™ continue to hold up well, with £1.4 million in the half year (2013: £1.6 million).
The recent acquisitions of Lypsyl™ in the UK and Ireland and Irenat™ in Germany are performing broadly in line with expectations, with Lypsyl delivering £0.5 million sales and Irenat £0.4 million sales in the period.
We continue to expect trading performance in 2014 to be in line with our plans, before the positive impact of any further acquisitions. Around £22 million of our acquisition bank facility remains undrawn and available to fund opportunities as they arise.
The Company's interim results for the six months ended 30 June 2014 are scheduled to be released on 10 September 2014.
*In 2014 Alliance is adopting International Financial Reporting Standard 11 and as a consequence will include joint ventures using equity accounting rather than proportional consolidation. Group turnover will no longer include share of joint venture turnover.
For further information:
Alliance Pharma plc | + 44 (0) 1249 466966 |
John Dawson, Chief Executive | |
Richard Wright, Finance Director | |
| |
Buchanan | + 44 (0) 20 7466 5000 |
Mark Court / Fiona Henson / Sophie Cowles | |
Numis Securities Limited | + 44 (0) 20 7260 1000 |
Nominated Adviser: Michael Meade / Freddie Barnfield | |
Corporate Broking: David Poutney |
Notes to editors:
Alliance, founded in 1998, is an AIM listed speciality pharmaceutical company based in Chippenham, Wiltshire, UK. The Company has a strong track record of acquiring the rights to established niche products and owns or licenses the rights to more than 60 pharmaceutical products and continues to explore opportunities to expand the range.
Alliance joined the AIM market of the London Stock Exchange in December 2003 and trades under the symbol APH.
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