Wiltshire's Alliance Pharma updates on FY 24 trading performance

Healthcare group Alliance Pharma plc, which has its UK headquarters in Wiltshire, said in a trading update that its performance for full year 2024 had been "in-line with expectations".

In the update, ahead of the announcement of its audited results, the firm said the board continued to anticipate that underlying group profit in FY 2024 ( year to December 31) will be in line with FY 2023.

READ MORE: Leverage down and revenues up for Wiltshire’s Alliance Pharma

The company, which holds the marketing rights to 80 consumer healthcare brands and prescription medicines sold in over 100 countries, said it had delivered see-through revenues of £180.3m in FY 24 (FY23: £182.7m), down 1% versus the prior period and up 1% at constant exchange rates (CER).

Whilst revenues had declined in some of its brands, the company had delivered a strong performance in Kelo-Cote, MacuShield, Hydromol and Forceval, it told investors in the stock market statement.

Headquartered in the UK, the AIM-listed group employs around 285 people across Europe, North America, and the Asia Pacific region.

CEO Nick Sedgwick said: "I am pleased that performance in 2024 is in-line with expectations.

"Whilst we have much to do as we work on our transformation plans, I am confident that our strong portfolio of clinically differentiated brands will deliver predictable organic revenue growth over the mid-long term."

In January this year, it was reported that Alliance Pharma had agreed to a £350m takeover by its largest shareholder DBAY Advisors.

Isle of Man-based DBAY Advisors already holds a 27.9% stake in the company.

And on Friday (January 31), Alliance Pharma issued a statement saying that a circular in relation to the scheme had been published. The acquisition is intended to be implemented via a Court-sanctioned scheme of arrangement

It involves the entire issued share capital of Alliance and is supported by the Alliance board, who recommend shareholders vote in favour.

The acquisition is subject to shareholder approval and court sanction, with the scheme expected to become effective in the first half of 2025.

An alternative offer is also available although the Alliance directors are unable to provide a recommendation on it.