Pharmaceutical firm announces record revenues

Wiltshire pharmaceuticals firm Alliance Pharma said it delivered record revenues last year.

The group said it delivered record see-through revenues of £182.7m, up  six per cent versus the previous year.

Excluding sales from ScarAway and the US rights to Kelo-Cote, both acquired in March 2022 like-for-like see-through revenues increased by six per cent.

Continued strong consumer demand, particularly in China, drove significant recovery in Kelo-Cote franchise revenues in the second half, leading to full year revenues of £63.2m.

Underlying profit for the period is anticipated to be in-line with market expectations and demand for the group’s brands remains strong

In order to achieve its medium-term objectives, in 2024, the board anticipates increased investment in sales and marketing, both directly and through the group’s distributors.

Peter Butterfield, chief executive  of Alliance, said: “Our portfolio continues to provide a robust platform from which to grow our Consumer Healthcare brands.

“In 2023, we delivered record revenues as we launched new advertising campaigns to accelerate organic sales growth whilst bringing new, innovative, products to market. Our global ecommerce business is building strongly, as we entered several new, high growth geographies in 2023, and look to enter more this year.

“We remain confident in our long-term performance as we focus our resources on those market segments in which we already have a strong presence and expertise in order to drive solid organic revenue growth above that of the broader Consumer Healthcare market.”