PHARMACEUTICAL development and manufacturing group Almac has reported a 19 per cent rise in revenues to £531 million while its pre-tax profits shot up from £27m in 2016 to more than £33m last year.
Globally, employee figures increased by10 per cent to 4,407, of whom 2,920 are employed at Craigavon, also representing an increase of 10 per cent (270 staff) on the previous year.
The figures are recorded in Almac’s annual report with its results for the year ending September 30 last.
The pre-tax profit figure benefited from upfront and other payments relating to the out-licensing of oncology products which had been developed in house by the group and which also contributed to the profit before tax figure for the year.
Almac 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 global HQ campus in Craigavon.
Group chief executive Alan Armstrong said: “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, but they will ensure steady and continued growth well 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.”
