Quantum Pharma posts solid first half

Quantum Pharma posted a sizeable improvement in revenue and earnings in its interim results on Tuesday, with revenue up 13% year-on-year and EBITDA ahead 23% at £5.7m.

The AIM-traded company said the revenue increase for the six months to 32 July reflected “strong growth” from its niche pharmaceuticals division, which the board had worked to “transform”, leading to it now accounting for 28% of group adjusted EBITDA.

Its statutory operating profit was up 74% to £3.6m, and the group had managed to reduce net debt to £11.9m from £23.8m a year earlier.

“I am very pleased with the strategic progress we have made in the period and the group has good momentum going into the second half of the year,” said CEO Chris Rigg.

“The benefits of our simplification strategy are clear to see in a strong set of results that demonstrate the substantial increase in the profitability of our business.”

Rigg said the next steps of the board’s strategic plan were underway, with a focus on delivering the current pipeline, maximising the value in its licensed product portfolio and exploiting international opportunities.

“I am confident in the future prospects of the group.”