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Pre-tax profit jumps 72% at Northern Ireland pharma firm Almac

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Unique solutions: Alan Armstrong

Unique solutions: Alan Armstrong

Unique solutions: Alan Armstrong

GLOBAL pharma development and manufacturing firm Almac, which is based in Craigavon, has reported a 72% jump in pre-tax profits to £47.6m.

The firm also reported 16% growth in turnover from £548.9m to £634.3m over the year to the end of September 2019.

Almac released details of its financial performance ahead of publication of the accounts at Companies House.

It said higher exchange gains on financial activities in the year also contributed to its improved profits.

Average employee figures increased by 7% from 4,798 to 5,150 during the same period.

Group chief executive Alan Armstrong said the pharma industry had changed since the period covered by the results.

"In response to the Covid-19 pandemic, we continue to conduct our critical business operations across all our locations.

"The health and safety of our employees and our ability to ensure the delivery of medicines to patients is, and always has been, our top priority and we are committed to ensure this continues."

He said the strong results reflected its investment in "people, facilities and unique solutions".

"With 100% of our profits reinvested into our business, we will continue to innovate and improve our wide range of services and products to ensure we provide the premium solutions our global client base relies on."

The firm said it had launched new solutions for clients in diagnostics, clinical trials and pharmaceutical development.

Almac said it had continued to invest heavily in its facilities in UK, Europe, North America and Asia. In 2017 it announced a facility in Dundalk, Co Louth as part of Brexit-proofing measures.

Belfast Telegraph