Quantum Pharma CEO cites exciting growth potential despite pretax profit dip
Andrew Scaife, Chief Executive Officer at Quantum Pharma Plc, has today spoken of his excitement of the firm’s future ‘growth potential’ despite the firm releasing a slight dip in pretax profits earlier this morning.
Publishing its half year results for the six months to 31 July 2015, the Durham-based pharmaceutical manufacturer, developer and supplier to the health and care sectors has reported that results are in line with management’s expectations.
During the period revenue rose by 22% across the group to £34.3m, up from £28m in 2014, whilst gross profit increased by 15% to £13.1m, up from £11.4m. However, the firm witnessed a slight decline in pretax profit which dropped to £2.78m from £3.5m this time last year.
Mr Scaife is anticipating bigger things to come from the business after securing key acquisitions earlier this year.
Acquisitions of Lamda and NuPharm are believed to have significantly improved thefirm’s product pipeline, development and manufacturing infrastructure.
Andrew Scaife, Chief Executive Officer of Quantum Pharma, said: “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. “
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