Northern Ireland pharmaceutical firm announces record revenue figure up 14% to £958million
Craigavon’s Almac Group reveals profit of £93.8million resulting from another year of growth
Northern Ireland pharmaceutical company Almac Group has recorded a £118million (14%) rise in revenue, up from £840million in 2022 to £958 million in the period.
Figures released by the global contract pharmaceutical development and manufacturing organisation were for the year ending September 2023.
They also revealed that operating profit rose again with final pre-tax profits recorded at £93.8 million, down slightly from £97 million (3.3%) in the previous year, due to a significant exchange rate adjustment.
The numbers released cover the second year of Almac Group’s £400million global expansion plans, announced in November 2021. This global expansion programme announced the creation of 1,800 new roles at Almac. 1,200 of those have already been filled and current Almac Group employee numbers now exceeds 7,300.
Almac, which is based in Craigavon, produces drugs to treat diseases such as cancer, heart disease and depression. It is at the forefront of developing, manufacturing, testing and distributing essential medicines to patients around the world. 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.
Alan Armstrong, Almac Group chairman and CEO, 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.
“Today’s 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.”