Alliance Pharma PLC (LON:APH) has held its dividend and said it is seeing signs of better trading after disruption from the coronavirus (COVID-19) pandemic affected its first half.
"We are now starting to see further signs of recovery and expect trading to continue to recover as we move through the remainder of the year,” said Peter Butterfield, chief executive of the healthcare products group in its interim results statement.
Revenues in the six months to end June 2020, dropped 7% to £61.7mln with prescription medicines particularly affected as routine treatments were delayed by COVID-19.
The company’s flagship consumer healthcare brands were helped by a strong performance from scar prevention treatment Kelo-cote, where revenues were up 8%.
Underlying profits (EBITDA) fell by 4% to £18.1mln, though a series of impairments and write-down meant pre-tax profits dropped to £0.6mln from £15.2mln in 2019.
Going forward, Alliance said it has regrouped in its products into consumer healthcare brands and prescription medicines to make understanding of the types of product simpler.
The interim dividend is unchanged at 0.536p.
Butterfield added: “Our robust cash generation and diverse and resilient product portfolio leave us well placed to resume our growth trajectory, as the markets for our products recover.
"Good progress continues to be made in bringing the Nizoral business fully under our control, together with the launch of our first line extension in China in July.”