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Alliance Pharma PLC - Chippenham, England-based distributor of consumer healthcare brands and prescription medicines - Reports revenue in the six months to June 30 to be virtually flat compared to a year prior as it expects improving margins in the second half of 2022.
Revenue in the first half of 2022 grows 0.9% to £81.6 million from £80.9 million a year ago. However, at constant exchange rates, revenue falls 2%.
While saying that global trading conditions were difficult in the first half of 2022, Alliance Pharma touts an improving second half: ‘We anticipate gross margin to improve in the second half of 2022 through favourable product mix and lower freight costs as supply chains normalise. We remain focused on controlling operating costs and have efficiency programs in place to help mitigate further cost inflation,’ firm says.
Alliance Pharma will release its interim results on September 20.
Current stock price: 101.49 pence, down 11% on Wednesday
12-month change: up 2.3%
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