(Alliance News) - Alliance Pharma PLC on Friday said it expects to report 2024 profit broadly in line with the year before, despite a decline in annual revenue.
The Chippenham, Wiltshire-based distributor of consumer healthcare brands and prescription medicines said it expects to report revenue of GBP180.3 million for 2024, down 1.3% from GBP182.7 million a year prior.
Revenue within its Kelo-Cote franchise grew 3.4% at constant exchange rates to GBP65.4 million from GBP63.2 million, in line with its mid-single digit revenue growth forecast.
The group is targeting a transition to smaller, more regular orders in China, though it notes that this is taking "longer than we anticipated".
Nizoral revenue sank 28% during the year to GBP16.4 million from GBP21.7 million, due to the timing of distributor orders, while Amberen revenue fell 10% to GBP10.1 million from GBP11.2 million.
Total see-through Consumer Healthcare revenue declined 4.3% at CER to GBP130.7 million from GBP136.4 million.
On the other hand, Prescription revenue grew 6.9% to GBP49.6 million, Forceval revenue rose 18% to GBP7.9 million, and Hydromol revenue was up 13% on-year to GBP10.3 million.
Alliance Pharma still anticipates underlying group profit for the year in line with the GBP31.5 million reported for 2023.
Chief Executive Officer Nick Sedgwick said: "I am pleased that performance in 2024 is in-line with expectations. Whilst we have much to do as we work on our transformation plans, I am confident that our strong portfolio of clinically differentiated brands will deliver predictable organic revenue growth over the mid-long term."
Shares in Alliance Pharma were flat at 61.20 pence each in London on late Friday morning.
By Emily Parsons, Alliance News reporter
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