Alliance Pharma : sales rise as key products inject healthy growth
The pharmaceutical firm's revenue rose 8.4 per cent compared with the previous year to £50.3m as sales of its top-selling scar-removal product Kelo-cote rose 52 per cent to £6.2m and sales of MacuShield, its nutritional supplement to treat age-related vision loss, jumped 67 per cent to £3.4m.
For the six months to the end of June, underlying profit before tax rose 1.7 per cent to £11.9m.
Alliance bought rival
The firm also benefited from the weakness of the pound compared to other currencies in the first six months of the year.
Alliance said its revenues were boosted by £2.6m due to exchange rate movements.
Alliance's international growth brands, Kelo-cote and MacuShield, showed promising results in the first half, and the firm aims to continue driving organic growth of the two brands through targeted marketing investment.
Its two-pronged growth strategy also includes seeking additional growth from bolt-on acquisitions.
(c) 2017 City A.M., source