Revenues at pharma company increase to £84m over last six months

Wiltshire pharmaceutical firm Alliance Pharma saw revenues increase slightly over the last six months to £84.8m.

The company has undergone a number of changes in recent months with the departure of its chief operating officer and a new chief executive.

The firm said consumer healthcare revenues rose five per cent to £61.4m with a particularly strong performance in the Kelo-Cote franchise.

Alliance Pharma said it expects group revenues to build throughout the second half, driving gross margin improvement which will be used to support further investment in marketing and innovation.

The board continues to anticipate that group profitability in the full year will be in line with the previous 12 months.

Net debt and group leverage are both expected to fall further in the second half, reflecting the group’s strong cash generation.

Chief executive Nick Sedgwick said: “I have enjoyed deepening my knowledge of Alliance since joining the business in mid May and am excited about our potential.

“My initial focus has been to streamline the company’s management structure, to accelerate decision making and to bring the consumer closer to the heart of the business, and I see further opportunity to deliver efficiency gains and capability improvements.

“I am pleased by the performance we delivered in the first half as we continue to see the benefits of our investment in both marketing and innovation. Our free cash flow is expected to build strongly throughout 2024, which we anticipate will enable us to reduce further our net debt and leverage by the end of the year.

“The Board’s expectation for full year financial performance is unchanged and I look forward to presenting my refined strategy in Q4 this year.”