Alliance Pharma announces its results for 2014

Alliance Pharma plc, the speciality pharmaceutical company, has announced its results for the year ended 31 December 2014.

Financial Highlights

• Revenue £43.5m (2013: £45.3m)
• Pre-tax profit £10.8m* (2013: £12.0m)
• Adjusted EPS 3.36p* (2013: 3.82p)
• Free cash flow £10.3m (2013: £8.2m)
• Net bank debt £21.1m (2013: £25.2m)
• Low gearing with Debt to EBITDA ratio of 1.6 times
• Proposed dividend:
  • Final dividend up 10% to 0.667p per share (2013: 0.605p)
  • Full year dividend up 10% to 1.000p per share (2013: 0.908p)

Operational Highlights

• Irenat™ acquisition in January 2014
• MacuShield™ acquisition in February 2015
• Hydromol™ continues to demonstrate good growth, achieving year on year sales growth of 15%
• Ashton & Parsons Infants’ Powder™ sales achieve very significant growth to £1.4m (2013: £0.4m) as a result of product redesign and improved supply

Alliance sales dip in a “challenging year”

Commenting on the results, Andrew Smith, Alliance’s Chairman, said: “In 2014 Alliance performed well, taking only a modest dip in sales and profits in a challenging year, which underlines the resilience of our business. We enter 2015 well placed for resumed growth. The recent acquisition of the fast-growing MacuShield brand together with the expected return of ImmuCyst™ in the second half of this year add to the growth drivers of our portfolio.”

* Before exceptional item, being impairment of Pavacol-D intangible

Note: 2013 figures restated for impact of adopting IFRS 11 Joint Arrangements

For more information about Alliance, please visit www.alliancepharma.co.uk.