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26 Mar 2019 | 14:12

Alliance Pharma profit falls 19% due to asset write-downs

Healthcare group Alliance Pharma booked a 19% drop in annual profit owing to asset write-downs, though its underlying performance improved.

Pre-tax profit for the year through December fell to £22.8m, even as revenue rose 16% to £118.2m.

Adjusted profit, which stripped out write-downs on the value of its Synthasia joint venture and anti-malarial assets, rose 17% to £28.1m.

The company declared a final dividend of 0.977p per share, up 10% on-year.

'In 2018 we continued to deliver on our strategy, with strong sales and profit growth, led by our international star brands and acquisitions,' chief executive Peter Butterfield said.

'2019 has started well and we look forward to continuing on our growth path in the year ahead and to deploying the group's strong cashflow to further develop as a leading international healthcare business.'

At 2:12pm: (LON:APH) Alliance Pharma PLC share price was +3.1p at 67.7p

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