News Column

Alliance Pharma Says Flat Revenue Met Its Expectations

July 9, 2014

Steve McGrath

LONDON (Alliance News) - Alliance Pharma PLC Wednesday said revenue in the first half of the year was about GBP22.5 million, almost flat on the GBP22.8 million it made a year earlier, as it expected.

In a trading update, the niche medicines company said revenue excluding its share of sales from joint venture was about GBP21.4 million in the six months to end-June, down from GBP22.8 million a year earlier.

It said sales of dry skin treatment Hydromol were up 15% on the year in the first half at GBP3.0 million, while sales of Ashton & Parsons Infants' Powder rose sevenfold to GBP0.7 million after sales were constrained in the year-earlier period by a lack of necessary production capacity. Sales of enteric-coated aspirin tablet Nu-Seals dropped to GBP1.4 million, from GBP1.6 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 GBP0.5 million sales and Irenat GBP0.4 million sales in the period," it said.

The company added that it expects trading for 2014 as a whole to be in line with its plans, excluding the benefit of any new acquisitions. Its aid it still has about GBP22 million in its acquisition bank facility.

Alliance Pharma will put out its full half-year results on September 10.

The company's shares were down 0.7% at 33.40 pence early Wednesday.

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Source: Alliance News

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