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Preliminary Results for the Year Ended 31 December 2014


("Alliance" or the "Group")

Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, is pleased to announce 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)

* Before exceptional item, being impairment of Pavacol-D intangible
Note: 2013 figures restated for impact of adopting IFRS 11 Joint Arrangements

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

“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.”

Andrew Smith, Alliance’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

25 Mar 2015 Preliminary Results for the year ended 31 December 2014 (513KB PDF)