Alliance Pharma PLC Pre-Close Trading Update (4472C)

TIDMAPH

RNS Number : 4472C

Alliance Pharma PLC

19 January 2015

 
 For immediate release                                                    19 January 2015 
 

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 its preliminary results for the year ended 31 December 2014.

Turnover for 2014 is expected to be GBP43.5 million (2013: GBP45.3 million after restatement following the adoption of IFRS 11). Pre-tax profits are expected to be in line with current market expectations.

Sales of the Hydromol(TM) dermatology range grew 15% year on year to GBP6.0 million and sales of the stoma care range grew by 10% to GBP4.3 million. Sales of Forceval(TM) recovered from the issues in 2013 to reach GBP3.5 million (2013: GBP1.9 million). With unconstrained supplies, sales of Ashton & Parsons Infants' Powder(TM) reached GBP1.3 million in 2014, up from GBP0.4 million achieved in 2013. These and other areas of growth were offset by the expected reduction in toxicology product sales from GBP3.9 million in 2013 to GBP0.1 million in 2014 and the decline in Nu-Seals(TM) sales from GBP3.1 million to GBP2.5 million as a result of generic competition in Ireland.

Cash generation remains strong and as a result net bank debt at 31 December 2014 was GBP21.1 million, down GBP4.6 million in the year. Alliance currently has GBP24 million of committed unutilised facility available to fund acquisitions. We continue to evaluate a number of acquisition opportunities.

Alliance's preliminary results for 2014 are due to be announced on 25 March 2015.

For further information:

 
 Alliance Pharma plc                 + 44 (0) 1249 466966 
 John Dawson, Chief Executive 
 Richard Wright, Finance Director 
 www.alliancepharma.co.uk 
                                         + 44 (0) 20 7466 
 Buchanan                                            5000 
 Mark Court / Sophie Cowles 
 
                                         + 44 (0) 20 7260 
 Numis Securities Limited                            1000 
 Nominated Adviser: Michael 
  Meade / Freddie Barnfield 
 Corporate Broking: David 
  Poutney 
 

Notes to editors:

About Alliance

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.

This information is provided by RNS

The company news service from the London Stock Exchange

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