London-listed Alliance Pharma (AIM:APH)
told investors on Wednesday that 2019 had seen strong revenue growth which spurred the ‘rapid reduction’ of the company’s net debt.
In a full-year trading update, the international healthcare group said that underlying profit was in line with expectations.
2019 saw a 16% revenue turnover from the year before, the company noted, with ‘see-through revenues’ standing at £144.3m from £124.0m in the comparative period.
Alliance explained that revenue growth was underpinned by strong performances across a range of its international star medical brands, in particular Kelo-cote™, a scar treatment product, which grew by 38%.
For the twelve months ended 31 December 2019, eye treatment product MacuShield™ and lice treatment Vamousse™ were also up 18% and 14%, respectively.
Shares in Alliance Pharma were trading 0.82% higher at 85.7p on Wednesday morning.
Peter Butterfield, Chief Executive Officer of Alliance Pharma said that organic growth in its consumer brands demonstrated “a continued momentum” which had carried through to 2019.
Anti-dandruff shampoo Nizoral™, which was under management by Johnson & Johnson in 2019, performed in line with expectations, generating £20.2m, compared with £10.9m in the second half of 2018.
Local brands were up from £77.8m to £78.4m demonstrating a stable performance with revenues, the company added.
“We are also pleased to report very healthy cash generation in 2019, which has resulted in a significant reduction in net debt,” said Butterfield.
He added that this left the company “well placed” to add further to its portfolio, focusing in particular on bolstering its consumer brands across international markets.
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