Alliance Pharma (LON:APH) reported a robust final statement after a “transformational” year for the pharmaceuticals group.
For the year ended 31 December 2015, revenue was up 11% to £48.3mln, compared to £43.5mln the previous year, which included £0.8mln from its recent acquisition of the Sinclair Healthcare Products Business.
"This year has been transformational for Alliance,” said chairman Andrew Smith.
“We will broadly double the scale of our business - in sales, profits and people.”
The company has already extended its reach to over 100 countries, up from around 40, and broadened its product portfolio to around 90 products.
“Alliance is now a truly international business with significant growth prospects. The current year has started well and we are progressing successfully in the integration of the Sinclair Healthcare Products acquisition,” added Smith.
Chief executive John Dawson said the company had gained more strength in China and South East Asia.
"It puts us on a different level for developing the business," he said.
Despite a slight hiccough in operations in Ireland due to changed legislation, the group said its products were doing well.
Operating profit stood at £16.9mln, compared to £11.1mln last year, while profit after tax was £12.6mln compared to £8.3mln.
Diluted earnings per share stood at 4.55p, compared to 3.16p.
The acquisition of the Healthcare Products Business from Sinclair was announced in December last year and at £132mln was the largest acquisition by the group to date.
Dawson said the outlook for the year was within expectations. "Our forecasts are spot-on," he added.
Shares were down 7% to 47p.
--ADD SHARE PRICE AND CEO COMMENT--