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Alliance Pharma PLC on Tuesday said it remains on track to meet full-year expectations as it reported a slight interim revenue climb and a flat profit.
Shares were down 3.1% at 71.88 pence each on Tuesday morning in London.
Alliance Pharma is a Chippenham, England-based distributor of consumer healthcare brands and prescription medicines.
For the six months that ended on June 30, Alliance Pharma reported a slight climb of 0.3% in revenue to £78.8 million from £78.6 million a year ago, impacted by ‘lockdown in Shanghai, and associated temporary disruption to supply chain’ it noted.
The company saw revenue up marginally by 1.1% in Consumer Healthcare to £57.4 million from £56.8 million a year earlier. Revenue in Prescription Medicine for the period remained in line with the prior year, amounting to £24.1 million.
Pretax profit remained flat at £16.5 million year-on-year, as administrative and marketing expenses also remained unchanged at £28.5 million.
Chief Executive Officer Peter Butterfield said: ‘I am pleased with the performance of the group in the first half of 2022 against the backdrop of difficult global trading conditions. The second half of 2022 has got off to an encouraging start as lockdowns and supply constraints have eased. We anticipate strong sales growth in the second half as our marketing campaigns yield benefits, we integrate our new distribution partners and launch new products to grow our market share.’
Alliance Pharma declared an interim dividend of 0.592 pence per share, up 5.4% from 0.563 pence a year prior.
Looking ahead, the company expects sales in the second half to grow across its major brands, as it remains on track to meet full-year market expectations. It also anticipates a ‘stabilisation of prices for goods and support services in the mid-term’.
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