For immediate release
18 May 2020
ALLIANCE PHARMA PLC
(“Alliance” or the “Group”)
Alliance Pharma plc (AIM: APH), the international healthcare group, will hold its Annual General Meeting (“AGM”) this morning. At the meeting, the Group’s CEO, Peter Butterfield, will make the following statement:
“Firstly, on behalf of the Board, I would like to thank all the Alliance team around the world for their outstanding work in a period of extraordinary challenge as a result of the COVID-19 pandemic.
“As outlined in our preliminary results announcement last month, the majority of our employees have been working from home with minimal operational disruption to our business owing to our outsourced business model and robust IT systems. Our Shanghai office became fully operational again in early April and we look forward to fully re-opening our other offices around the world, in line with local government guidance.
“As expected, we have seen some impact on year to date revenues due to COVID-19, although we have been encouraged by the robustness of our product portfolio. We are now beginning to see a return in consumer confidence starting in China, a key market for Alliance, and we continue to anticipate that trading will be weighted to the second half of the year.
“Our supply chain remains robust and we have not experienced any significant supply disruption due to COVID-19. With a strong balance sheet and significant covenant headroom, the Board is confident that the Group is well placed to respond to increasing demand as local lockdown measures are eased.
“We look forward to providing an update on our first half trading performance and full year outlook in mid July 2020 in our scheduled half year trading update.”
AGM 2020: Dial-in details for shareholders
Alliance’s AGM is being held at 10am this morning. As detailed in the Notice of AGM, shareholders will not be able to attend the AGM in person, but shareholders are invited to follow the proceedings of the AGM remotely via the listen-only dial-in details given below.
UK Toll-free: 0800 3589473
UK Toll: 03333 000804
International dial-in numbers: https://events-ftp.arkadin.com/ev/docs/NE_W2_TF_Events_International_Access_List.pdf
For further information
Alliance Pharma plc
+ 44 (0)1249 466966
Peter Butterfield, Chief Executive Officer
Andrew Franklin, Chief Financial Officer
+ 44 (0)20 7466 5000
Mark Court / Hannah Ratcliff
Numis Securities Limited
+ 44 (0)20 7260 1000
Nominated Adviser: Freddie Barnfield / Huw Jeremy
Corporate Broking: James Black
Investec Bank plc
+ 44 (0) 20 7597 5970
Corporate Finance: Daniel Adams / Ed Thomas
Corporate Broking: Patrick Robb / Tejas Padalkar
Alliance Pharma plc (AIM: APH) is an international healthcare group, headquartered in the UK with subsidiaries in Europe, the Far East and the US and wide international reach through an extensive network of distributors, generating sales in more than 100 countries.
We currently own or in-license the rights to more than 90 consumer healthcare and pharmaceutical products, which are managed on a portfolio basis according to their growth potential. Promotional investment is focused on a small number of brands with significant international or multi-territory reach. The remainder of the portfolio comprises products which are sold in a limited number of local markets and require little or no promotional investment.
Our strategy allows us to benefit both from organic growth opportunities and from enhancing our growth rate through carefully selected acquisitions.
For more information on Alliance, please visit our website: www.alliancepharmaceuticals.com