Menu
14/11/2001
Galen report buoyant trading for year ending 2001
Galen Holdings, the international speciality pharmaceuticals company based in Craigavon, has posted buoyant profit figures.
In the last trading year the company reported a turnover of £183 million for the year ended September 2001, up more than double on that of the previous year’s £86 million turnover figure. This represents a 112 per cent increase in turnover on the year, attributable to the acquisition of the American-based Warner Chilcott and the Estrace hormone franchise bought from Bristol-Myers Squibb.
Galen’s operating profits jumped 127 per cent from £24 million to £54.9 million, with per-tax profits rising from £24.4 million to £41.6 million.
Dr John King, Chairman of Galen, said: “Galen has made great progress towards the creation of an international specialty pharmaceutical company. Our strategy is based on continued organic growth through our existing businesses, the development and commercialisation of new proprietary products and selective acquisitions of products which complement our existing ranges.
“Our activities during the year have demonstrated success in all three elements of this strategy and we have created strong foundations for further growth in 2002.”
Describing the year as “transforming for Galen,” Dr King said the company has made excellent progress following the acquisition of Warner Chilcott and the access it provides to the US pharmaceutical market.
Galen reported that over 60 per cent of revenues were now being generated in the US.
Earnings per share, before amortisation of intangible assets and goodwill rose by 51.6 per cent to 23.5 pence. Dr King said: “These excellent results reflect continuing strong growth in the business and have encouraged your Board to recommend the payment of a final dividend of 1.66p per ordinary share, making a total for the year of 2.49p which represents an increase of 20.3 per cent over the 2.07p declared for the previous year.”
Galen employs around 1790 people of which some 700 are employed in the US. (SP)
In the last trading year the company reported a turnover of £183 million for the year ended September 2001, up more than double on that of the previous year’s £86 million turnover figure. This represents a 112 per cent increase in turnover on the year, attributable to the acquisition of the American-based Warner Chilcott and the Estrace hormone franchise bought from Bristol-Myers Squibb.
Galen’s operating profits jumped 127 per cent from £24 million to £54.9 million, with per-tax profits rising from £24.4 million to £41.6 million.
Dr John King, Chairman of Galen, said: “Galen has made great progress towards the creation of an international specialty pharmaceutical company. Our strategy is based on continued organic growth through our existing businesses, the development and commercialisation of new proprietary products and selective acquisitions of products which complement our existing ranges.
“Our activities during the year have demonstrated success in all three elements of this strategy and we have created strong foundations for further growth in 2002.”
Describing the year as “transforming for Galen,” Dr King said the company has made excellent progress following the acquisition of Warner Chilcott and the access it provides to the US pharmaceutical market.
Galen reported that over 60 per cent of revenues were now being generated in the US.
Earnings per share, before amortisation of intangible assets and goodwill rose by 51.6 per cent to 23.5 pence. Dr King said: “These excellent results reflect continuing strong growth in the business and have encouraged your Board to recommend the payment of a final dividend of 1.66p per ordinary share, making a total for the year of 2.49p which represents an increase of 20.3 per cent over the 2.07p declared for the previous year.”
Galen employs around 1790 people of which some 700 are employed in the US. (SP)
Related Northern Ireland News Stories
Click here for the latest headlines.
20 December 2012
NI Tops UK Worries Poll For Money And Families
People in the Northern Ireland are more concerned about money than anywhere else in the country according to Samaritans' annual worries survey 2012. An exclusive YouGov poll for Samaritans shows that 66 per cent of Northern Irish people placed worries about money in their top five, and 17 per cent above the UK average.
NI Tops UK Worries Poll For Money And Families
People in the Northern Ireland are more concerned about money than anywhere else in the country according to Samaritans' annual worries survey 2012. An exclusive YouGov poll for Samaritans shows that 66 per cent of Northern Irish people placed worries about money in their top five, and 17 per cent above the UK average.
06 February 2002
Schools to benefit from additional £21.4 million in funding
The Education Minister has announced that schools across the province will receive an extra £21.4 million on top of their delegated budgets in the next financial year. The additional funding, which is five per cent more than last year's budgetary allocation, will be spread between every single primary and post primary school in the province.
Schools to benefit from additional £21.4 million in funding
The Education Minister has announced that schools across the province will receive an extra £21.4 million on top of their delegated budgets in the next financial year. The additional funding, which is five per cent more than last year's budgetary allocation, will be spread between every single primary and post primary school in the province.
22 September 2022
Census 2021 Records NI's Largest Ever Population
The latest census data has revealed NI's largest ever resident population of 1,903,175 on census day, 21 March 2021. The Northern Ireland Statistics and Research Agency (NISRA) has today published the first raft of statistics from the census collected last year.
Census 2021 Records NI's Largest Ever Population
The latest census data has revealed NI's largest ever resident population of 1,903,175 on census day, 21 March 2021. The Northern Ireland Statistics and Research Agency (NISRA) has today published the first raft of statistics from the census collected last year.
11 January 2002
Jurys Doyle report 12 per cent fall in half-year profits
Ireland’s largest hotel group Jurys Doyle has posted a 12 per cent drop in profits and has called the last financial year “the most challenging” the hospitality and tourism sector has faced in many years.
Jurys Doyle report 12 per cent fall in half-year profits
Ireland’s largest hotel group Jurys Doyle has posted a 12 per cent drop in profits and has called the last financial year “the most challenging” the hospitality and tourism sector has faced in many years.
23 May 2003
Bombardier announces sale of Belfast City Airport
Bombardier Aerospace has today announced the sale of Belfast City Airport to Spanish construction firm Ferrovial for £35 million. Juan Bejar, General Manager of Ferrovial’s infrastructure division said the acquisition was "a further opportunity for growth in a strategic business area".
Bombardier announces sale of Belfast City Airport
Bombardier Aerospace has today announced the sale of Belfast City Airport to Spanish construction firm Ferrovial for £35 million. Juan Bejar, General Manager of Ferrovial’s infrastructure division said the acquisition was "a further opportunity for growth in a strategic business area".
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
