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ALLIANCE PHARMA PLC

("Alliance" or the "Group")

Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, is pleased to announce its interim results for the six months ended 30 June 2014.

Highlights of the year to date:

  • Half year revenue including share of joint ventures £22.5m (H1 2013: £22.8m)
    • Year on year underlying revenue growth of 9.3% (14.8% including joint ventures) when the cyclical toxicology product is excluded
  • HydromolTM continues to grow well, with sales up 15% to £3.0m (H1 2013: £2.6m)
  • Ashton & Parsons Infants' PowdersTM sales jumped to £0.7m (H1 2013: £0.1m) on unconstrained supply
  • Half year profit before tax £5.4m (H1 2013: £6.8m)
    • Year on year underlying pre-tax profit growth of 31% when the cyclical toxicology product is excluded
  • Basic earnings per share 1.68p (H1 2013: 2.22p)
  • Interim dividend up 10% to 0.333p (H1 2013: 0.303p)
  • Net bank debt £25.5m (31 December 2013: £25.2m)
  • Acquisition of IrenatTM in Germany from Bayer in January 2014

“Alliance made a solid start to 2014 with revenue and profits in line with expectations and good underlying revenue growth of 9.3%. We see growth potential from our Hydromol range, from other products in our portfolio including Ashton & Parsons Infants' Powders, and from potential acquisitions. With some £22m of our acquisition bank facility still undrawn we have ample headroom for deals and are working hard on an attractive pipeline of opportunities. Current trading is in line with management forecasts and we expect full year results to be in line with market expectations.”

Andrew Smith, Alliance Pharma's Chairman

FOR FURTHER INFORMATION:

Alliance Pharma plc + 44 (0)1249 466966
Peter Butterfield, Chief Executive Officer
Andrew Franklin, Chief Financial Officer

Buchanan + 44 (0)20 7466 5000
Mark Court / Sophie Wills / Hannah Ratcliff

Numis Securities Limited + 44 (0)20 7260 1000
Nominated Adviser: Michael Meade / Freddie Barnfield
Corporate Broking: James Black

Investec Bank plc + 44 (0)20 7597 5970
Corporate Finance: Daniel Adams / Ed Thomas
Corporate Broking: Patrick Robb / Tejas Padalkar

10 Sep 2014 Interim results for the six months ended 30 June 2014 (281KB PDF)