Pre-Close Trading Update

RNS Number : 5250V

Alliance Pharma PLC

15 January 2013

 



 

15 January 2013

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 2012.

Turnover for 2012 is expected to be £44.9m (2011: £46.0m).  There was a record increase of £1.1m in Hydromol^TM sales, taking the sales for 2012 to £4.7m, representing growth of 29% over the previous year.  The acquisitions completed during 2012, Opus Group Holdings and the antimalarial brands purchased from AstraZeneca, performed in line with expectations.

As a result of a stronger than expected gross margin rate, pre-tax profits are expected to be slightly ahead of current market expectations.

Alliance's preliminary results for 2012 are expected to be announced on 21 March 2013.

Bank Facilities

Alliance has agreed an additional £10m acquisition facility with Lloyds Banking Group.  Currently £16.5m of the original £20m facility put in place in 2010 has been drawn to part-fund acquisitions over the past two years.  The total committed but unutilised acquisition facilities available to Alliance therefore now stand at £13.5m.

For further information:

Alliance Pharma plc	+ 44 (0) 1249 466966
John Dawson, Chief Executive
Richard Wright, Finance Director
Buchanan	+ 44 (0) 20 7466 5000
Mark Court / Fiona Henson / Sophie Cowles
Numis Securities Limited	+ 44 (0) 20 7260 1000
Nominated Adviser: Michael Meade / Oliver Cardigan
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 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.

 

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