Almac Group Reports Pre-tax Profits of £27M
June 8, 2017
Craigavon, N.I., 7 Jun 2017 – Almac Group, the global contract pharmaceutical development and manufacturing organisation, has reported pre-tax profits of almost £27M.
Growth in revenue for the global company was recorded at 14% higher than the previous year at £447M.
Globally, employee figures increased by 12% to 3,975. Of this total 2,650 staff are employed at Craigavon, representing an increase of 421 on the previous year.
The figures were recorded in Almac’s annual report with its results for the year ending 30 September 2016.
2015 pre-tax profit was recorded at £28M, however that year’s figures included $20M income from out-licensing oncology products and diagnostics tests developed in-house by Almac Diagnostic Services. No such R&D contribution was included in the £27M for 2016.
2016 saw significant investment on expanding Almac’s US Headquarter site in Souderton, Pennsylvania in addition to leasing new office space in nearby Lansdale in response to increased client demand for its services.
The company also recently announced a £5M investment at its Global HQ campus in Craigavon to build an additional lab and office facility whilst further considerable investment has been made in other operational sites in North Carolina, Ireland and Asia. Further investment is being planned as part of its global expansion strategy and will be announced throughout the year.
Group CEO, Alan Armstrong commented “2016 was a very successful year for Almac as we continued to deliver upon our global expansion strategy including investment of around £31 million in new facilities, equipment and resources. All our profits are reinvested into the business enabling us to offer best-in-class services and products to our clients.”
About Almac Group
‘Partnering to Advance Human Health’
The Almac Group is an established contract development and manufacturing organisation that provides an extensive range of integrated services to the pharmaceutical and biotech sectors globally. The services range from R&D, biomarker discovery development and commercialisation, API manufacture, formulation development, clinical trial supply, IXRS® technology (IVRS/IWRS) through to commercial-scale manufacture.
The international company is a privately-owned organisation that has organically grown almost 50 years and now employs in 5600 highly skilled personnel. Almac is headquartered in Craigavon, Northern Ireland with operations in the UK, Ireland, across the US (Pennsylvania, North Carolina and California) and in Asia (Singapore and Tokyo).