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Half Year Trading Update & Notice of Interim Results

Half Year Trading Update & Notice of Interim Results

 

 

Quantum Pharma Plc (AIM: QP.), the service-led niche pharmaceutical developer, manufacturer and supplier, announces the following trading update for the half year ended 31 July 2017 (the 'period').

The Board is pleased to report that:

  • Trading during the period has continued to be strong and as a result Group Adjusted EBITDA for the half year ended 31 July 2017 is expected to be in line with management expectations as updated on 26 June 2017;
  • The strategic plan to focus and simplify the Group is driving tangible benefits and the first phase is now complete. As anticipated this has led to a significant improvement in financial performance and an overall higher margin business;
  • Decisive actions have transformed Niche Pharmaceuticals into a highly profitable division which is now contributing significantly to Group Adjusted EBITDA through successful product portfolio performance with a healthy and focussed development pipeline;
  • As the pipeline progresses through its various stages of development the Board's confidence in its deliverability and value has increased; and
  • The progress achieved has enabled the Group to explore the development of the opportunities in international markets, where its unlicensed to licensed strategy can be replicated. A number of partnerships are in the process of being explored which would provide the Group with the necessary platforms for international expansion.

Chris Rigg, Chief Executive of Quantum, said: "I am very pleased with the performance of the Group in the first half of the current financial year and the execution of our strategy. As a focussed pharma business, free from distractions, we are ahead of our strategic plan and are very well placed to maximise the opportunity in the UK, develop internationally as well as drive efficiencies through our business."

The Group will announce its interim unaudited results for the half year ended 31 July 2017 on Wednesday, 30 August 2017. An analyst briefing will be held on the same day at 09:30 a.m. at the offices of Buchanan, 107 Cheapside, London EC2V 6DN.

Posted by: Quantum Webmaster on 9th August 2017