Alliance Pharma (APH)

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Alliance Pharma APH Logo

A UK based specialty pharmaceutical company engaged in the acquisition, marketing and distribution of pharmaceutical products.

27-Mar-2018 – 66.6p – £320.2m – PER 14.9

Results For The 12 Months To End December 2017 – Revenue up 6% to £103.3m (2016: £97.5m), 3% CC, Underlying PBT up 8% to £24.0m (2016: £22.2m), Underlying Adjusted Basic EPS up 10% to 4.06p (2016: 3.69p), Net Debt at £72.3m (2016: £76.1m), FY Dividend will be 10% up at 1.331p (2016: 1.210p). This year has started well.

Still quite like this. Previously my Watchlist at 60p, I will leave it there for now.

24-May-2018 – 89.2p – £424.1m – PER 18.8

AGM Statement – In-line.

Was on my Watchlist at 60p but looks like growth is forecast to slow now. I am going to go Neutral here for now.

25-Jul-2018 – 94p – £483.4m – PER 19.2

Trading Update For The 6 Months To End June 2018 – FY Revenue and Underlying PBT to be in-line with expectations.

Was on my Watchlist at 60p and missed the boat somewhat – At present on a PER of almost 20 I am not so attracted here, Neutral for now.

19-Sep-2018 – 91p – £468.8m – PER 18.3

Interim Results For The 6 Months To End June 2018 – Revenue up 10% (12% CC) with Underlying Basic EPS up 4%, Net Debt stands at £86.3m, £72.3m last time. The Interim Dividend is up 10% to 0.487p.

On a PER of almost 20 I remain Neutral for now.

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