Last checked at 8 Jan 2009 07:00
| For immediate release | 8 January 2009 |
ALLIANCE PHARMA PLC
("Alliance Pharma" or "the Company")
Pre-close Trading Update
Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, is pleased to announce that trading in the second half of 2008 has been strong, with positive sales momentum across a number of brands. Turnover in the second half of 2008 was £11.9 million, up £2.0 million on the first half. Turnover for the full year to 31 December 2008 was £21.8 million, an increase of 20% on the previous year.
Results for the year to 31 December 2008 are therefore expected to exceed market expectations significantly, with pre-tax trading profits expected to be not less than £2.3 million.
Michael Gatenby, Alliance Pharma's Chairman, said: "As Alliance Pharma's sales are mainly prescription driven, they are largely unaffected by economic conditions. Indeed, sales continue to grow, together with profitability and cash generation. Given the current financing climate, it is reassuring to note that Alliance Pharma is securely financed, with a fixed schedule of repayments against long term loans."
Alliance Pharma's full 2008 results are scheduled to be released on 18 March 2009.
For further information:
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| Alliance Pharma plc | + 44 (0) 1249 466966 |
| John Dawson, Chief Executive | |
| Richard Wright, Finance Director | |
| www.alliancepharma.co.uk | |
| Buchanan Communications | + 44 (0) 20 7466 5000 |
| Mark Court / Rebecca Skye Dietrich | |
| Numis Securities Limited | + 44 (0) 20 7260 1000 |
| Nominated Adviser: Michael Meade / Brent Nabbs | |
| Corporate Broking: David Poutney |