A1 Financial Performance in 2018
In spite of the economic uncertainty surrounding ‘Brexit’ and significant weakening of Sterling since the June 2016 referendum the company has still achieved record annual sales & net assets for the year ending April 2017.
Strong Growth in Sales, Assets and Working Capital:
Sales have grown 59% in 10 years from £34.96 Million (M) to a record £55.60M for the year ending April 2017. Pre tax profits although down in 2017 are still very healthy and at £3.3M rank in the top 4 annual performances of a 31 year history.
The financial strength of the company continues to improve with net assets and working capital increasing to a record £11.2M an impressive increase of 29% on previous year & a huge 167% increase in just 5 years, is a testament not only to the company’s consistent performance but also the shareholders confidence and continual reinvestment of profits into the company and it’s people.
Investment in people:
The company has heavily reinvested in its people growing its team by a huge 65% in the just 6 years to a record 40 employees this combined with abolishing the UK minimum wage in favour of the significantly higher ‘Real living wage’ as prescribed by the Living Wage Foundation of which A1 Pharmaceuticals is a founding member. This sends a clear message that this is a progressive caring company that heavily reinvests in its people and their training. The investment in people is reflected in the performance with one of the highest sales revenues per employee (£1.39M) in the UK. A policy of paying a fair living wage that is a minimum of 20% higher than the Governments recommended minimum wage has improved moral and retention of the company’s lowest paid employees.
Growing Financial Strength Reflected in an Improved Credit Rating:
Creditsafe* recommend £1.15 million credit limit a numerical rating of 80 (70+ excellent very low risk) which places the company in the top 25% in the UK. The international score is grade A the highest grade possible and the company is considered one of the promptest payers in the pharmaceutical and healthcare sector. *Creditsafe is endorsed by all major credit insurers meaning their ratings & limits are one of the most trusted globally.
Awards and Recognition:
Recently identified in a survey by the London Stock Exchange as one of the “top 1000 most inspirational companies in Britain” of nearly 3 million companies surveyed. Consistently listed by Grant Thornton in the Essex top 100 ranking based on annual sales revenue.
Recognised with the achievement of being listed No.28 of over 2 million companies surveyed in the UK ‘Sunday Times Profit Track 100 in April 2014 and more recently the founders were joint finalists Ernest & Young Entrepreneur in 2015 & on numerous other occasions.
In spite of the uncertainty caused by ‘Brexit’ & weakened sterling (£) the team continues to maintain healthy sales which are expected to remain strong in the region of £55M for the year ending April 2018.
The directors/founders remain confident that their continued policy of reinvestment in its infrastructure and the improving skills and quality of their team will sustain healthy growth into the medium and long term. The companies highly positive cash flow and strong financial reserves are creating the opportunity and desire for merger and acquisition in 2017 and beyond.
Gary and Carmen Lewis, the Founders of A1 Pharmaceuticals Plc would like to take this opportunity to thank their Team, Suppliers and indeed our customers for believing in their leadership and remaining loyal to our cause. Without the dedication and sacrifices of our people these amazing achievements would not have been possible.