Almac posts record-breaking sales after another year of growth

Revenues at Craigavon pharmaceutical firm up 14% to £958m as profits come in at £93.8m

Almac Group
Craigavon-headquartered Almac Group has reported a 14% rise in revenue to £958 million in the year to September 30

Pharmaceutical development and manufacturing giant Almac Group has posted record-breaking sales in the year to September 30, new figures show.

It comes on the back of a period of phenomenal growth for the Craigavon-headquartered firm, which is in year two of a £400 million global expansion plan first announced in November 2021.

That programme intended to create 1,800 additional roles at Almac - and 1,200 of those have already been filled already, bringing current employee numbers at the group to more than 7,300.

Figures filed at Companies House show the company recorded a £118 million (or 14%) rise in revenue, up from £840 million in 2022 to £958 million in the period.

Operating profit rose again, while final pre-tax profits were recorded at £93.8 million, down slightly from £97 million (3.3%) in the previous year.

This, the company said, was due to a significant exchange rate adjustment (Almac posted a foreign exchange loss of £6.4m as compared to an equivalent foreign exchange gain of £10.1m in 2022, accounting for £16.5m of additional cost).

Almac, which operates 18 facilities including Europe, the USA and Asia, is at the forefront of developing, manufacturing, testing and distributing essential medicines to patients around the world.

Almac chief executive Alan Armstrong
Almac chief executive Alan Armstrong

During this financial year the group was involved in the development of hundreds of life-saving drugs spanning more than 20 therapeutic areas including oncology, cardiology, immunology, gene therapy and neurology.

Almac Group chairman and chief executive Alan Armstrong said: “We are a privately-owned and independent company, committed to re-investing all our profit back into the business. We continuously innovate and expand our business offerings, enabling us to support our clients while advancing human health.

“This announcement is a welcome continuation of growth for the Almac Group, and I would like to thank everyone within the organisation for playing their part. Our valued global workforce is Almac’s greatest asset providing the foundation for our success.

“Almac is dedicated to ensuring we remain a global leader in our industry, giving our clients and ultimately patients across the world the best possible offering. We continue to play our part as a valued and trusted member of the communities in which we operate.”