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Annual Results

Skyepharma swings to FY after-tax profit

16 March 2016 09:29

Skyepharma has booked a FY after-tax profit of GBP26.3m, from a year-ago loss of GBP11.7m. Revenues came in at a record GBP95.9m, up 30% from GBP73.8m.

CEO Peter Grant said 2015 has been a year of further substantial progress both operationally and financially.

"Our proven expertise in developing innovative inhalation and oral products has given us a track record of growth that reinforces our optimism about the future.

"In 2015, this was demonstrated in record revenues, up 30% to £95.9 million; in pre-exceptional basic earnings per share, up 43%* to 25.1p; in operating profit, up 46% to £31.5 million; and in cash generation of £19.7 million.

"With a healthy balance sheet, the Group is able to make carefully targeted investments to advance our promising pipeline to deliver products aimed at continuing to drive growth well into the next decade and beyond as well as continuing to invest in capacity to meet the increasing demand for flutiform around the world.

"In SKP-2075 and SKP-2076, we believe we have two product candidates which have the potential to be promising new treatment options in the $29 billion global COPD and asthma markets. We also continue to build on our heritage of innovation in the field of oral delivery by developing new technologies that have the potential to bring real benefits to patients."

At 9:29am:

(LON:SKP) SkyePharma PLC share price was +14.25p at 407.75p

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