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Logistics Development Group PLC on Tuesday said it bought further shares in Alliance Pharma PLC, spending £6.8 million. Logistics Development is a London-based investment company, while Alliance Pharma is a Chippenham, England-based distributor of consumer healthcare brands and prescription medicines. Logistics Development purchased an additional 10.2 million shares in Alliance Pharma at an average price of 66.83 pence per share, taking its overall stake to 29.0 million Alliance Pharma shares, or 5.4% of share capital. Shares in Alliance Pharma were up 3.2% to 59.42p each in London on Tuesday late morning, while Logistics Development shares were down 1.3% to 14.80p. Also on Tuesday, Alliance Pharma reported 2022 pretax profit plunged 71% to £5.2 million from £18.2 million in 2021, despite revenue ticking up 1.4% to £172.0 million from £169.6 million. This was largely due to impairment of goodwill and intangible assets trebling to £18.2 million from £6.2 million. Alliance Pharma declared a final dividend of 1.184p, up 5.0% from 1.128p a year earlier, taking its total 2022 dividend to 1.776p, up 5.0% from 1.691p in 2021. Looking ahead, Alliance Pharma said: ‘Our portfolio of Other Consumer brands is expected to deliver high single digit revenue growth, substantially ahead of the broader consumer healthcare market.’ Copyright 2023 Alliance News Ltd. All Rights Reserved.
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