20th May 2015 09:38
LONDON (Alliance News) - Quantum Pharma PLC saw its shares hit a new post-IPO high Wednesday after it swung to a pretax profit in its last financial year as all six of its business units contributed to organic growth in revenue and operating profit.
The specialty pharmaceutical products company, which listed on AIM last December, reported a pretax profit of GBP1.1 million for the year to end-January, compared with a loss of GBP2.6 million a year earlier, as revenue rose to GBP61.7 million from GBP53.5 million.
Excluding share-based payments of GBP2.1 million, a one-off loan release of GBP1.6 million and the GBP4.2 million costs mainly associated with its initial public offering, its closely-watched earnings before interest, tax, depreciation and amortisation rose to GBP12.2 million from GBP9.1 million.
It proposed a maiden final dividend of 0.25 pence a share.
"The group continues to trade in line with management's expectations and we believe that the outlook for Quantum Pharma is exciting. During the current financial year, we will continue to lay strong foundations for future growth. The group has a very strong pipeline of niche pharmaceutical products which, coupled with a market-leading service, will provide significant opportunities both in the UK and internationally," Chief Executive Andrew Scaife said in a statement.
Last month the company bought the Lamda companies for EUR9.7 million, a move that will boost its product pipeline and in-house development capability and give it access to more markets.
Quantum Pharma shares were up 5.9% at 140.37 pence Wednesday morning, a new high since its listing in December. Its IPO price was 100 pence.
By Steve McGrath; [email protected]; @stevemcgrath1
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