Alliance Pharma PLC Pre-Close Trading Update (5120M)
21 January 2016 - 6:00PM
UK Regulatory
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
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