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Almac Group turnover surpasses £500 million for first time Pre-tax Profits recorded at over £33M
Craigavon, N.I., 4 June 2018 – Almac Group, the global contract pharmaceutical development and manufacturing organisation, has reported a 19% rise in revenue to £531M.
The global company has also reported an increase in pre-tax profits, up from £27M in 2016 to over £33M.
Globally, employee figures increased by over 10% to 4,407. Of this total 2,920 staff are employed at Craigavon, representing an increase of also 10% or 270 staff on the previous year.
The figures were recorded in Almac’s annual report with its results for the year ending 30 September 2017.
2016 pre-tax profit was recorded at £27M. This year’s figure of £33M benefited from upfront and other payments relating to the out-licensing of oncology products which had been developed in house by the group and which also contributed to the profit before tax figure for the year.
The company continued to invest in expansion projects in 2017 with the building of additional lab and office facilities and the ongoing construction of one of the largest pharmaceutical cold store facilities in Europe at its Global HQ campus in Craigavon.
Group CEO, Alan Armstrong commented: “2017 was a strong year for Almac with turnover over £531 Million and profits surpassing £33 million. During the year we made significant investment for the long term benefit of the Group including global expansion into key strategic territories. The financial benefit of these investments may not be realised immediately, however they will ensure steady and continued growth of the Group into the future. All our profits are reinvested into the business enabling us to offer best-in-class services and products to our clients and continue to be a leader in the life sciences sector.”
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From Select Greater Philadelphia
Philadelphia beat out every other city in the U.S. for quality of life for the cost, according to San Francisco-based Varo Money Inc.
The mobile banking startup surveyed more than 1,000 people over the age of 18. According to their results, 56 percent of Philadelphians said that the city had the best price tag for quality of life, and 73 percent stated that they could afford the lifestyle they wanted.
Overall, Philadelphia gained the top spot for quality of life over other big U.S. cities like San Francisco, New York City, and Chicago.
“For companies thinking about relocating or opening a satellite office, these survey results provide extremely useful data,” said Colin Walsh, co-founder and CEO of Varo Money, in a Philadelphia Business Journal article. “Quality of life — including financial considerations — is a huge benefit for companies across industries, and this survey hits some of the most critical factors.”
Philadelphia has also gained high rankings for everything from the 4th most improved economy in the U.S. to 5th least expensive city to base a tech startup.
May26Sat
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Philly Mayor urges Irish to lead immigrant welcome
By Irish Echo Staff
Philadelphia Mayor Jim Kenney has told an Irish American business audience that the Irish should lead the way when it comes to welcoming immigrants to the U.S.
“Part of the problem in the immigration debate is that too many of our own people don’t know our own history,” he said in his address to the Irish Small Business-Big Impact 50 Awards in the Union League of Philadelphia.
“And when they take somewhat unfortunate positions on who should be able to come to this country now, I think they need to go read the 1840s history book about what happened in Philadelphia and in America. We were a Papist plot to take over and overthrow the United States government according to the know-nothings. Two of our churches in Philadelphia were burnt to the ground.”
To read the full article, please click HERE.
2018 Irish American EOY from Ciright on Vimeo.
