Quantum Pharma Plc (AIM: QP.), the growing, service-led niche pharmaceutical manufacturer, developer and supplier to the health and care sectors, has today given DirectorsTalk its half year results for the six months to 31 July 2015, which show the Group has progressed well in the period and the Group is pleased to report results that are in line with management’s expectations.
Financial Highlights:
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|
FY16 HI |
FY15 HI |
Movement |
|
Revenue |
£34.3 million |
£28.0 million |
22% |
|
Gross profit |
£13.1 million |
£11.4 million |
15% |
|
Adjusted EBITDA1 |
£5.5 million |
£5.4 million |
3% |
|
Adjusted profit before tax1 |
£4.5 million |
£2.5 million |
77% |
|
Adjusted earnings per share1 (restated) |
3.2 pence |
1.5 pence2 |
115% |
|
Interim dividend per share |
0.5 pence |
n/a |
n/a |
|
Product development expenditure |
£3.0 million |
£1.1 million |
164% |
1Adjusted EBITDA, adjusted profit before tax and adjusted earnings per share each exclude share based payments, one off costs, acquisition costs and deferred consideration of acquisitions.
2 The earnings per share for the period ended 31 July 2014 has been restated to reflect the capital structure of the Plc as if it had always existed
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Record half years in a number of business units – UL Medicines, Quantum Aseptic Services, Protomed (Biodose®) and Biodose Services. |
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New banking facilities in place with RBS and Lloyds which position the Group well for the future. |
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First interim dividend of 0.5p per share, representing one third of expected total dividend for the current financial year. |
Business Highlights:
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Acquisitions of Lamda and NuPharm, significantly enhancing the Group’s product pipeline, development and manufacturing infrastructure. |
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Increased Niche Pharmaceuticals regulated product development pipeline to in excess of 70 licensed pharmaceuticals and medical devices (“products”). |
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At least 10 products are anticipated to be in the market by end of this financial year with a significant number of launches to follow in the next financial year. |
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Significant tender and contract wins in homecare for Biodose Services and strong progress made with Biodose Connect®. |
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The Group has focused its operations into three divisions; Specials, Niche Pharmaceuticals and Medication Adherence.
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Post Period Highlights:
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Out-licence of Aviticol® (colecalciferol 20,000 IU capsules, marketed in the UK under the brand name Aviticol®) to a major German pharmaceutical company for €1.5million. |
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A number of out-licensing deals across Europe from Lamda. |
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Exclusive agreement to manufacture and supply Futura Medical plc’s novel treatment for erectile dysfunction as a special. |
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Investment in key senior management team appointments. |
Andrew Scaife, Chief Executive Officer of Quantum Pharma, commented: “The Group has had a good first half and continues to take significant strategic steps, broadening its product and service offerings and penetrating new markets, all whilst continuing to generate growth across the Group.
During the period we continued to develop all key aspects of the Group, from infrastructure to management, and now have in place a very strong platform from which to further develop and deliver our strategy. Although there have been some delays in product launches, the number of products in the Niche Pharmaceuticals product pipeline has nearly doubled during the period. The exact timing of approvals and launches of any development pipeline is hard to predict precisely, however, we look forward to a very busy next 18 months as the front end of our product pipeline comes to market.
We anticipate a number of these product launches in the remainder of the financial year and as such we expect to trade in line with the market expectations for the year ending January 2016. Furthermore, as a result of the possibilities provided by the recent acquisitions of Lamda and NuPharm, the increased Niche Pharmaceuticals pipeline and the focused divisional structure, I believe that the Group has greater growth potential now than at the time of the IPO, and I am excited by the future. “
