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IN BRIEF: Alliance Pharma annual profit "marginally below" forecasts

25th May 2023 11:19

Alliance Pharma PLC - Chippenham, England-based distributor of consumer healthcare brands and prescription medicines - Says adjusted pretax profit for 2023 will be "marginally below" its current expectations amid the strengthening of the UK sterling against the US dollar, and rising interest rates. Expectations for revenue and adjusted earnings before tax, depreciation and amortisation will be met. Sales for the first four months of 2023 are ahead of the same period a year prior.

Says in-market demand in China for its Kelo-Cote gel used to treat hypetrophic and keloid scars continues to recover following a supply chain disruption triggered by Covid-19.

Current stock price: 62.69 pence, down 6.2%

12-month change: down 45%

By Sabrina Penty, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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