Alliance Pharma (APH) Trading Update summary

Financial performance

• See-through revenues for 2024 were £180.3m, down 1% year-on-year, but up 1% at constant exchange rates.

• Kelo-Cote franchise grew 6% CER to £65.4m, aligning with mid-single digit growth guidance.

• Nizoral revenues declined 21% CER to £16.4m due to distributor order timing; Amberen fell 7% CER to £10.1m.

• Prescription Medicine revenues rose 8% CER to £49.6m, with Forceval up 20% CER and Hydromol up 14% CER.

• Underlying group profit for FY 2024 is expected to be in line with FY 2023.

Brand and product highlights

• Kelo-Cote, MacuShield, Hydromol, and Forceval delivered strong performances.

• MacuShield grew 11% CER, offsetting weakness in Lefuzhi and Ashton & Parsons.

• Other Consumer Healthcare revenues declined 2% CER to £38.8m.

• Recovery in prescription medicine revenues as previously out-of-stock products became available.

Strategic outlook and management commentary

• CEO expressed satisfaction with 2024 performance, noting alignment with expectations.

• Transformation plans are ongoing, aiming for predictable organic revenue growth over the mid- to long-term.

• Focus remains on investing in priority brands, innovation, and selective geographic expansion.