Alliance Pharma revenues doubled in 2016 after its first full year since its tie-up with Sinclair
Alliance Pharma revenues more than doubled in 2016 with the firm boosted by its December 2015 acquisition of Sinclair.
In its annual trading update, the firm said revenues would be £97.5m, up from £48.3m in 2015. Although £43.8m of this increase was attributable to ex-Sinclair products, the group delivered organic growth of 13 per cent compare with 2015.
Read more: Alliance Pharma raises forecast
The weakening of sterling contributed £4.2m of additional revenues as a result of sales in US dollar and euro jurisdictions.
The firm also bolstered its balance sheet, reducing net debt from £79m in June to £76m and squeezing out £10m of free cash flow in the second half of the year.
Shares rose by 0.5 per cent in trading yesterday.