Alltracel promises ‘exciting’ future

SHAREHOLDERS in Alltracel Pharmaceuticals were promised an “exciting” future yesterday as the first aid product developer said first-half losses fell from €2.2 million to €1.9m.

The Sallynoggin-based company, which develops wound care treatments, said revenue surged from €1.98m to €8.37m in the six months to June. Operating losses eased from €1.8m to €1.5m before interest expenses.

Chief executive Tony Richardson said the results were pleasing and that he remained comfortable with a full-year revenue forecast of €21m. Mr Richardson, who took over from company founder Gerry Brandon last year, said the company was benefiting from recent acquisitions and that cross-selling benefits and associated cost savings were already kicking in.

“The first nine months of 2005 have gone well and Alltracel continues to be well positioned with first class patented technologies, products, partners and people,” he said. “We are looking at an exciting remainder of 2005, in which we are intent on aggressively driving top line revenue for the full product portfolio in an increasingly integrated organisation.”

The company plans to enter the professional wound care market in Europe and develop new anti-bleeding products for the oral care market later in the year. It recently struck a deal to take over Westone, a British manufacturer of oral care products such as mouthwash, breath fresheners and toothbrushes.

Alltracel is also scouring the Asian market for partners and hopes to team up with a major food development company to work on healthy eating projects.