Alliance Pharma PLC AGM Statement (6294H)
May 21 2014 - 1:00AM
UK Regulatory
TIDMAPH
RNS Number : 6294H
Alliance Pharma PLC
21 May 2014
For immediate release 21 May 2014
ALLIANCE PHARMA PLC
("Alliance" or the "Company")
AGM Statement
Alliance Pharma plc (AIM: APH), the speciality pharmaceutical
company, will hold its Annual General Meeting ("AGM") in London
later this morning.
Michael Gatenby, the Company's Chairman, will make the following
statement:
"Following a robust performance in 2013 when Alliance grew
revenue to GBP45.5 million and increased pre-tax profits by 11% to
GBP12.0 million, trading in the first four months of 2014 has been
in line with expectations, with revenue of GBP15.2 million.
"Of particular note in the period to date has been the continued
strong performance of the Hydromol(TM) brand, which in the 12
months to April 2014 delivered revenue growth of 18%.
"Production volumes of Ashton and Parsons Infants' Powders(TM)
have increased significantly with the introduction of the new
packaging machinery. We are now able, for the first time, to meet
demand fully and are starting a promotional campaign behind the
product. Revenue from Ashton and Parsons Infants' Powders(TM) in
the first four months of 2014 was GBP0.6 million, nearly 50% higher
than the whole of 2013.
"We continue to search actively for acquisition opportunities
and have available to us an acquisition bank facility of more than
GBP20 million.
"As previously announced, I retire from Alliance immediately
following this meeting and I'm proud to say that I leave the
business in great shape. It has been a privilege to chair Alliance
for the past 10 years, a period in which the Company has evolved
into a profitable, cash generative business with a portfolio of
more than 60 pharmaceutical products. I am confident that Alliance
will continue on this growth path in future."
Andrew Smith, who assumes the Chairmanship immediately after the
AGM, will make the following comments:
"On behalf of the Board, I would like to thank Michael very much
for his strong leadership over the past decade. He has made a
significant contribution to Alliance and we all wish him well for
the future.
"We expect trading performance this year to be in line with our
plans. We continue to work towards delivering further earnings
enhancing acquisitions to outperform those plans."
For further information:
Alliance Pharma plc + 44 (0) 1249 466966
John Dawson, Chief Executive
Richard Wright, Finance Director
www.alliancepharma.co.uk
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 / Freddie Barnfield
Corporate Broking: David Poutney
Notes to editors:
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 pharmaceutical 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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