19th Jan 2015 09:51
LONDON (Alliance News) - Alliance Pharma PLC said Monday its pretax profit for 2014 will be in line with current market expectations, and revenue is expected to be down from 2013.
Alliance Pharma expects to post revenue of GBP43.5 million, down from GBP45.3 million in the previous year, as a result of the reduction in toxicology product sales, and declining sales of its 'Nu-Seals' aspirin due to generic competition in Ireland.
This was partly offset, however, by sales of its Hydromol dermatology range rising 15% and by 10% growth in sales of its stoma care range. Additionally, sales of its food supplement Forceval recovered from supply disruption in the previous year to reach GBP3.5 million from GBP1.9 million, and sales of its Aston & Parsons Infants' Powder improved after supply constraints lifted.
Alliance Pharma said it is continuing to evaluate a number of acquisition opportunities. It had net bank debt at the end of 2014 of GBP21.1 million, and currently has GBP24 million of committed, unutilised facility available to fund acquisitions, it said.
Alliance Pharma said it expects to announce its full-year results on March 25.
Shares in Alliance Pharma were down 1.4% at 36.25 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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