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2 minute read - 29th May 2024

Record revenue for Almac Group as growth continues

Contract pharmaceutical development and manufacturing company Almac Group has announced its financial results for year ending 30 September 2023.

Figures released show the company recorded a £72.7m* ($93m) rise in revenue to £910m* ($1.169bn), up from £840m* ($1.076bn) in 2022. Operating profit rose again – final pre-tax profits were recorded at £89.5m* ($114.4m), down slightly from £97m* ($124m) in the previous year, due to a significant exchange rate adjustment.

The numbers released cover the second year of Almac Group’s £391m* ($500m) global expansion plans, announced in November 2021. This global expansion programme announced the creation of 1,800 new roles at Almac. Around 1,200 of those have already been filled and current Almac Group employee numbers now exceeds 7,300.

*Almac Group made the original announcement as $93m, $1.169bn, $1.076bn, $114.4m, $124m and $500m in US Dollars – due to ongoing currency fluctuations, £72.7m, £910m, £840m, £89.5m, £97m and £391m are estimates based on exchange rates on the day of publishing.

Almac Group saw record revenue in its latest financial year and CEO Alan Armstrong has underlined the commitment to continue its investment programme / Picture: Almac Group

Almac is at the forefront of developing, manufacturing, testing and distributing essential medicines to patients around the world. During this financial year, it 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.”

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