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19 Sep 2018 | 09:04

Alliance Pharma profits weighed down by higher costs

Alliance Pharma reported Wednesday a marginal increase in first-half profit amid higher costs related to acquisition of Vamousse and continued investment in the company's International Star Brands.

For the six months ended 30 June, profit before tax was up 2.0% to £12.1m, and revenues rose 10% to £54.5m.

Like-for-like revenues, excluding acquisitions, was up 3%, but they were higher on a constant currency basis at 4%.

The company said its International Star brands continued to deliver strong performance, led by Kelo-cote.

The company expected revenues and underlying profit before tax for the current financial year would be in line with its expectations as the second half of the year had started well.

The company said the UK launch of Xonvea, used to treat nausea and vomiting of pregnancy, was slated for the fourth quarter of 2018. 'We continue to evaluate bolt-on acquisitions with the objective of further driving our growth,' Alliance Pharma said.

At 9:04am: (LON:APH) Alliance Pharma PLC share price was -1.9p at 89.1p

Story provided by StockMarketWire.com
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