LONDON (ShareCast) - - Returns to double-digit profit growth in 2013
- Revenue growth held back by production issues with ImmuCyst
- Confident of future growth, eyes more acquisitions

AIM-listed drug company Alliance Pharma said it is confident of good revenue and profit momentum over the next few years as it posted double-digit profit growth in 2013.

The group, which enjoyed strong demand for its dermatology and post-abdominal surgery treatment products, said pre-tax profit rose 11% to £12.0m for the year ended December 31st 2013. Revenue rose just 1% to £45.5m after the suffered temporary production issues with its bladder cancer drug ImmuCyst.

Basic earnings per share rose 6% to 3.82p. A final dividend of 0.605p per share has been offered, up 10% from the year before.

Chairman Michael Gatenby said: "Given the strength of our portfolio, the acquisitions made in the past couple of years and the healthy pipeline of opportunities we are seeing, we are confident of good revenue and profit growth over the next few years."

Alliance, which has made three products acquisitions in the last year, said it plans to make further acquisitions during 2014.

It added that divisions in France and Germany are both now trading profitably.


CJ

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