Northern Ireland

Profits surge by 72 per cent at Craigavon pharma giant Almac

An aerial shot of the Almac Group headquarters in Craigavon.
An aerial shot of the Almac Group headquarters in Craigavon.

CRAIGAVON-based pharmaceutical giant Almac has posted a 72 per cent rise in pre-tax profits to £47.6 million.

Turnover at the global contract pharmaceutical development and manufacturing group reached £634.3m for the year ending September 2019, up 16 per cent on the previous year.

Almac’s workforce grew by 352 people to 5,150 over the same period. The group said yesterday that it now employs 5,600 in 18 facilities across Europe, the US and Asia.

The figures, which were laid out in its latest annual report, do not include any work relating to Covid-19.

Group chief executive Alan Armstrong said: “These results are for our 2018-19 financial year and, since then, much has changed in our industry.

“In response to the COVID-19 pandemic, we continue to conduct our critical business operations across all our locations.

“The health and safety of our employees and our ability to ensure the delivery of medicines to patients is, and always has been, our top priority and we are committed to ensure this continues."

He said Almac continues to reinvest 100 per cent of profits back into the business.