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Alliance Pharma

October 2013

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H1 results showed pretax profit ahead by 29% to Â£6.8m on sales up by 4% to Â£22.8m. Eps were up 23% to 2.2p. As well as seeing strong sales of Hydromol (Â£5m +18%) and a maiden contribution from the Opus acquisition (Â£2m), trading was flattered by being â€œon-yearâ€ for the toxicology product (Â£3.2m). All three products are high margin and increased gross margins from 54% to 61.2%. But there were also lower sales from former stars on the wane; Deltacotril (Â£0.5m), Nu-Seals (Â£1.6m) and a temporary loss of Immunocyst (which will be relaunched in FY14) hampered sales growth. The main swing factor is, of course, acquisitions and despite spending Â£8.2m on Syntometrine, an obstetric drug acquired in July, net debt ...

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