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Preliminary Results for the year ending 31 December 2015

Released : 07 Apr 2016
RNS Number : 4330U
Alliance Pharma PLC
07 April 2016


("Alliance" or the "Group"

Alliance Pharma plc (AIM: APH), the specialty pharmaceutical company, is pleased to announce its results for the year ended 31 December 2015.

Financial Highlights

  • Revenue up 11% at £48.3m (2014: £43.5m), including £0.8m from the transformational acquisition of the Sinclair Healthcare Products Business
  • Reported pre-tax profit up 49% to £15.2m (2014: £10.2m)
  • Underlying pre-tax profit up 6% at £11.4m* (2014: £10.8m)
  • Adjusted diluted EPS up 8% at 3.61p* (2014: 3.34p)
  • Free cash flow of £6.3m (2014: £10.3m), after acquisition of £4.7m Sinclair inventory
  • Net bank debt of £71.5m (2014: £21.1m)
  • Gearing at year end of 2.8 times (Debt to EBITDA ratio)
  • Proposed dividend:
    • Final dividend up 10% to 0.734p per share (2014: 0.667p)
    • Full year dividend up 10% to 1.100p per share (2014: 1.000p)

* Before non-underlying items, being primarily compensation from Sanofi and acquisition costs for Sinclair, See note 2.

Operational Highlights

  • Transformational Sinclair Healthcare Products Business acquisition in December 2015
  • MacuShield™ acquisition in February 2015
  • Licensing agreement signed with Duchesnay Inc in January 2015 for the product Diclectin™
  • Hydromol™ continues to demonstrate good growth, achieving year on year sales growth of 10%  to £6.6m
  • Settlement received of £6.3m (net of fees) in connection with ImmuCyst™ claim

Commenting on the results, Andrew Smith, Alliance's Chairman, said: "This year has been transformational for Alliance following the Sinclair Healthcare Products Business acquisition. We will broadly double the scale of our business - in sales, profits and people. We have extended our reach from around 40 countries to over 100, greatly strengthened our presence in Europe and Asia, and extended our portfolio to some 90 products. Alliance is now a truly international business with significant growth prospects. The current year has started well and we are progressing successfully in the integration of the Sinclair Healthcare Products acquisition."

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

Notes to editors:

About Alliance

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.