The news is good for Al­mac

Belfast Telegraph - Business Telegraph - - Front Page - BY MICHELLE WEIR

The phar­ma­ceu­ti­cal firmhas­re­porteda turnover of more than £500mfor2017

PHAR­MA­CEU­TI­CAL gi­ant Al­mac, which is based in Craigavon, has re­ported a turnover of more than £500m for first time.

The phar­ma­ceu­ti­cal devel­op­ment and man­u­fac­tur­ing com­pany also re­ported an in­crease in pre-tax prof­its — up from £27m in 2016 to over £33m — as well as a 19% rise in rev­enue to £531m.

In­ter­na­tion­ally, em­ployee fig­ures in­creased by over 10% to 4,407.

A to­tal of 2,920 staff are em­ployed at Craigavon, rep­re­sent­ing an in­crease of 270 staff on the pre­vi­ous year.

The fig­ures were recorded in Al­mac’s an­nual re­port with its results for the year end­ing Septem­ber 30, 2017.

The com­pany said that 2017’s fig­ure of £33m in pre-tax prof­its re­flected pay­ments re­lat­ing to the out-li­cens­ing of on­col­ogy prod­ucts.

The com­pany con­tin­ued to in­vest in ex­pan­sion projects in 2017 with the build­ing of ad­di­tional lab and of­fice facilities and the on­go­ing con­struc­tion of one of the largest phar­ma­ceu­ti­cal cold store facilities in Europe at its head­quar­ters in Craigavon.

In Jan­uary this year, the com­pany also an­nounced fur­ther in­vest­ment at its premises in Dun­dalk, Co Louth.

Plans for the premises were an­nounced in 2017 as part of the com­pany’s plan­ning to en­sure sin­gle mar­ket ac­cess fol­low­ing Brexit.

Group chief ex­ec­u­tive Alan Armstrong said: “2017 was a strong year for Al­mac with turnover over £531m and prof­its sur­pass­ing £33m.

“Dur­ing the year we made sig­nif­i­cant in­vest­ment for the long-term ben­e­fit of the group in­clud­ing global ex­pan­sion into key strate­gic ter­ri­to­ries.

“The fi­nan­cial ben­e­fit of th­ese in­vest­ments may not be re­alised im­me­di­ately, how­ever they will en­sure steady and con­tin­ued growth of the group into the fu­ture.

“All our prof­its are rein­vested into the busi­ness, en­abling us to of­fer best-in-class ser­vices and prod­ucts to our clients and con­tinue to be a leader in the life sciences sec­tor.”

The in­ter­na­tional com­pany is a pri­vately-owned or­gan­i­sa­tion that has grown over al­most half a cen­tury and now em­ploys nearly 5,000 peo­ple.

Al­mac pro­vides an in­te­grated ser­vices to the phar­ma­ceu­ti­cal and biotech sec­tors glob­ally. As well as the UK and Ire­land, it also has op­er­a­tions in the US and in Asia, Sin­ga­pore and Tokyo.

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