18th Jan 2022 11:52
(Alliance News) - Alliance Pharma PLC on Tuesday reported strong annual results as it increased revenue across both its consumer healthcare and prescription medicine businesses.
The Wiltshire, England-based pharmaceutical and healthcare company reported see-through revenue of GBP169.6 million in 2021, up 23% from GBP137.5 million in the previous year. See-through revenue includes sales from Nizoral, an antiandrogen and antifungal medication.
Revenue for 2021 on a statutory reported basis is expected to be GBP163.2 million, an increase of 26% on the prior year.
Underlying pretax for the year is expected to be "comfortably" ahead of market expectations due to an outperformance in silicone scar gel Kelo-Cote, Alliance Pharma explained.
The company's consumer healthcare business reported total net revenue of GBP121.8 million, up 31% from GBP93.0 million in 2020. Like-for-like consumer revenue rose 14% on a constant currency basis. Alliance Pharma said this was underpinned by increased e-commerce activity.
The prescription medicines business delivered revenue of GBP47.8 million, up 8% from GBP44.5 million a year before. Alliance Pharma said this reflects a partial return to the delivery of routine treatments and normalisation of daily life compared with the early stages of the pandemic in 2020.
In the US, Amberen generated net revenues of USD26.5 million in its first full-year under group ownership, with second half revenue up 12% on the same period in 2020 under previous ownership at constant currency. Amberen focuses on menopause relief and was acquired by Alliance Pharma in December 2020.
Free cash flow stood at GBP30.1 million, down from GBP34.1 million in 2020. As a result, net debt fell to GBP87.1 million at 31 December from GBP109.4 million at the same time the previous year.
Chief Executive Peter Butterfield said: "I'm delighted with the organic double-digit revenue growth delivered by the group in 2021, despite the challenging operating environment.
"As we move into 2022, with Amberen now fully integrated into our enlarged US operations, we expect to accelerate growth as we realise the benefits of the additional revenue opportunities that the brand has brought into the group."
Shares in Alliance Pharma were up 6.3% at 109.25 pence on Tuesday morning in London.
By Heather Rydings; [email protected]
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