LONDON (ShareCast) - Alliance Pharma’s annual pre-tax profit gained 11 per cent to 12m pounds, on the back of three acquisitions.

The pharmaceutical company reported a 1.4% rise in revenue to £45.5m and a 6% increase in earnings per share to 3.82p.

The company said growth was "underpinned by the continuing success of the Hydromol dermatology range".

Demand for Hydromol, now the group’s largest brand, outstripped production during the year so the group plans to ramp-up its manufacturing capacity.

During the period the company bought three products with an annualised gross margin of £2.6m. They included MolluDab, Anbesol for mouth ulcers and teething, Quinoderm for acne, and Pavacol-D cough syrup.

"It has been very pleasing to see Alliance return to double-digit profit growth in 2013," said Chairman Michael Gatenby.

"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. We plan to gain momentum from further acquisitions during 2014."

Shares rose 2.62% to 34.25p at 16:20 on Thursday.

RD

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