Alliance Pharma 2015 profit up on Sinclair Healthcare acquisition

Alliance Pharma posted a rise in 2015 pre-tax profit as revenue grew following its acquisition of the Sinclair Healthcare Products division.

For the year to the end of December, pre-tax profit increased 49% to £15.2m as revenue rose 11% to £48.3m. This included £0.8m from the “transformational” acquisition of the Sinclair division.

Adjusted diluted earnings per share were up 8% from 2014 to 3.61p and the company proposed a final dividend of 0.743p per share, up from 0.667p. This takes the full year dividend up 10% to 1,100p.

Alliance said it has free cash flow of £6.3m compared with £10.3m in 2014, following the acquisition of £4.7m Sinclair inventory.

Chairman Andrew Smith said: “This year has been transformational for Alliance following the Sinclair Healthcare Product business acquisition. We will broadly double the scale of our business - in sales, profits and people. We have extended our reach from around 40 countries to over 100, greatly strengthened our presence in Europe and Asia, and extended our portfolio to some 90 products.

“The current year has started well and we are progressing successfully in the integration of the Sinclair Healthcare Products acquisition.”

At 1450 BST, Alliance shares were down 4.8% to 48.34p.