Alliance predicts positive full-year results
This article was originally published in Scrip
Alliance Pharma had a turnover of £21.8 million last year and expects to exceed market expectations for its full-year results, which will be released in March. Turnover in the second half of last year was £11.9 million, an increase of 20% compared with the first half of the year. Alliance now expects pre-tax trading profits of at least £2.3 million. Michael Gatenby, Alliance's chairman, said the company's sales were mainly prescription driven and were therefore largely unaffected by economic conditions. Existing shareholder Nigel Wray has purchased a further one million ordinary shares at 1p each. Mr Wray, who also owns the rugby club Saracens and has a £78 million stake in Domino's Pizza UK & Ireland, now holds around 12.2 million Alliance shares, equivalent to 7.5% of the company's issued share capital.