The Alliance Pharma board have announced that, after suspending the final dividend payment for 2019 in response to the COVID-19 pandemic, it is declaring an interim dividend payment of 0.536p per share for 2020, in line with that for 2019. The Board will continue to assess the level of future cash distributions having regard to overall business performance and future outlook, in light of the global uncertainty created by COVID-19
Other financial highlights include:
The interim dividend for 2020 will be paid on 7 January 2021, to shareholders on the register on 18 December 2020.
The Group delivered a robust operational and financial performance in the first half of 2020, despite the challenges posed by COVID-19.
Strong performance from Consumer Healthcare brands, with Kelo-cote revenues up 8% and see-through revenues down 3% overall
Prescription Medicine revenues down 15%, reflecting delays in routine treatments as a result of COVID-19
See-through revenue in total down 7% ( -7% CCY) to £65.3m
Good control of operating expenditure resulting in a resilient underlying EBITDA performance down 4% to £18.1m (H1 2019: £18.8m)
Underlying profit before tax up 7% to £16.3m (H1 2019: £15.2m); reported profit before tax down 96% to £0.6m (H1 2019: £15.2m), due to non-cash impairment and amortisation charges
Free cash flow robust at £10.5m, with continued reduction in leverage to 1.34 times from 1.48 times at December 2019
New line extension for Nizoral launched in China in July 2020; majority of Nizoral licence transfers on track to be completed by the end of the year
Product portfolio reclassified into Consumer Healthcare brands and Prescription Medicines, in recognition of the different characteristics of these product types