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Alliance Pharma - Trading ahead of expectations

July 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Alliance Pharma continues to delight with yet another announcement that trading has been ahead of expectations in the first four months of 2010. Turnover has been 88% higher (54% like-for-like excluding Cambridge Labs). Sales of Deltacortril continue to run strong at Â£1m a month, with the competing generic launch apparently delayed. In response, Numis has upgraded current year pretax profit forecasts 4% to Â£12.1m (eps: 4.1p). Tipped last December at 20.75p the shares, which at one point hit a new high of 36p, have now gained 49%. With cash flows at record levels, Alliance has the means to fund further eps enhancing deals. Keep holding for that ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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