APH Alliance Pharma Plc

TIDMAPH

RNS Number : 5120M

Alliance Pharma PLC

21 January 2016

 
 For immediate release   21 January 2016 
 

ALLIANCE PHARMA PLC

("Alliance" or the "Company")

Pre-Close Trading Update

Alliance Pharma plc (AIM: APH), the specialty pharmaceutical company, announces its pre-close trading update ahead of its preliminary results for the year ended 31 December 2015.

Group revenue (excluding JV sales) for 2015 is expected to be more than 10 per cent up at GBP48.2 million (2014: GBP43.5 million), including revenues of GBP0.8 million following the acquisition of the Healthcare Products Business from Sinclair IS Pharma plc on 17 December 2015. The Company's trading profit before tax is expected to be in line with the Board's expectations.

MacuShield(TM), acquired in early February 2015, contributed GBP3.5 million of sales in the year, and continued growth in the Hydromol(TM) dermatology range resulted in sales 10% above last year at GBP6.6 million. Forceval(TM) UK grew strongly with sales of GBP2.2 million, GBP0.6 million above last year, following continued recovery from previous stock-outs. These and other growth areas offset the impact of the hand back of nine products at the end of 2014 to Novartis, which generated sales of GBP1.6 million in 2014, and the continued decline in sales of Nu-Seals(TM), from GBP2.5 million in 2014 to GBP1.9 million in 2015, due to generic competition in Ireland.

The integration of the transformational acquisition of the Sinclair Healthcare Products Business is progressing well. Costs associated with this acquisition are expected to be in the range of GBP2 million for the year ended 31 December 2015, in line with management's expectations. The Healthcare Products Business comprises 27 products, which recorded sales of GBP43.3 million in the 12 months to 30 June 2015.

As previously announced, Alliance negotiated new and enlarged bank facilities of GBP100.0 million to part-finance the acquisition of the Healthcare Products Business. This new facility replaced the Company's previous GBP55.0 million facility. As at 31 December 2015 net bank debt of GBP72.4 million was in line with expectations and is anticipated to reduce progressively as a result of the cash generation of the enlarged business.

The Company expects to announce its preliminary results for the twelve months ended 31 December 2015 on Thursday 7 April 2016.

For further information:

 
 Alliance Pharma plc                  + 44 (0) 1249 466966 
 John Dawson, Chief Executive 
  Andrew Franklin, Chief Financial 
  Officer 
 Sarah Robinson, Company Secretary 
 www.alliancepharma.co.uk 
                                          + 44 (0) 20 7466 
 Buchanan                                             5000 
 Mark Court / Sophie Cowles 
  / Jane Glover 
 
                                          + 44 (0) 20 7260 
 Numis Securities Limited                             1000 
 Nominated Adviser: Michael 
  Meade / Freddie Barnfield 
 Corporate Broking: David 
  Poutney / James Black 
 

Notes to Editors:

About Alliance Pharma

Alliance, founded in 1998, is an international speciality pharmaceutical company based in Chippenham, Wiltshire, UK. The Company has sales in more than 100 countries worldwide via direct sales, joint ventures and a network of distributors. Alliance has a strong track record of acquiring the rights to established niche products and it currently owns or licenses the rights to approximately 90 pharmaceutical and consumer healthcare products. The Company continues to explore opportunities to expand its product portfolio.

Alliance joined the AIM market of the London Stock Exchange in December 2003 and trades under the symbol APH.

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTSEFFASFMSESF

(END) Dow Jones Newswires

January 21, 2016 02:00 ET (07:00 GMT)

Alliance Pharma (LSE:APH)
Historical Stock Chart
From Mar 2024 to Apr 2024

Alliance Pharma (LSE:APH)
Historical Stock Chart
From Apr 2023 to Apr 2024