Almac turnover soars to £677m as staff numbers rise by 300
CRAIGAVON-headquartered pharma firm Almac has reported a 6 per cent increase in turnover from £634.3 million to £677.3 million in its financial year to September 2020.
That hike led to improved pre-tax profits (up to £63.5m from £47.6m for the same period the previous year), with group performance enhanced through the receipt of a number of out-licencing payments from products developed in-house.
Average employee figures at its 18 global locations increased from 5,150 to 5,466 during the same period, according to the organisation’s annual report (the bulk, 3,600, are in Co Armagh).
And just last week Almac also confirmed that it is planning to set up a new facility in Derry, where it expects to create 100 highly skilled posts over the next three years.
Throughout its last trading year, Almac invested significantly in both new and existing facilities to meet ongoing global demand for its unique high-quality solutions.
In addition, it completed the acquisition of Swedish-based boutique healthcare company POA Pharma, which added substantial new therapeutic areas and territories to its existing Galen portfolio.
As the race for a vaccine and treatment for Covid-19 escalated, Almac partnered with a variety of global pharmaceutical, biotech and research institutions to support over 140 separate crucial research projects through a range of service areas, including analytical services, peptide development, expedited Interactive Response Technology (IRT) support and clinical trial management.
Almac Group chief executive Alan Armstrong said: “The last financial year was challenging for everyone as companies had to adapt much of their typical operational practices in response to the pandemic whilst ensuring the safest working environment for employees.
“I'm extremely proud of Almac’s efforts to ensure client service levels were not impacted in any way throughout and ensuring patients received the medication they so depend upon. The commitment, dedication and professionalism from our employees has been exemplary and I wish to thank them all.
He added: “Almac’s mission is to advance human health, and this has never been more applicable than right now as we continue to support multiple companies in their quest to make significant advances in the fight against Covid and other diseases.
“With 100 per cent of our profits reinvested into our business, we have already committed to a number of significant expansion and improvement projects across our sites in the US, Europe and Asia in order to ensure we provide the premium solutions our global client base rely on.”