It’s now close to joining a set of other NI firms with 10-figure sales such as construction firm John Graham Holdings, poultry giant Moy Park Holdings, energy company LCC Group, commodities business W&R Barnett and wholesale and retail firm Henderson Group.
Almac Group revenue has increased by 14% on 2022’s figure of £840m, with the pharma giant posting revenue of £958m in the year to September 2023.
The financial results also reveal a rise in operating profit, with final pre-tax profits recorded at £93.8m, down 3.3% on the previous year’s figure of £97m due to a significant exchange rate adjustment.
Almac Group revealed details of its financial performance ahead of publication of its results at Companies House.
These numbers cover the second year of £400m plans for global expansion which were announced by Almac Group in November 2021.
Part of this included the creation of 1,800 new roles, with 1,200 of these having already been filled to take the current employee headcount beyond 7,300 across 18 sites.
Working with major biopharma companies across the world to develop vital treatments, Almac Group has become a trusted expert in drug research and development and diagnostic services.
During this financial year, it was involved in the manufacture of hundreds of drugs spanning medical fields including oncology, cardiology, immunology, gene therapy and neurology.
Alan Armstrong, Almac Group chairman and CEO said: “We are a privately-owned and independent company, committed to re-investing all our profit back into the business.
“We continuously innovate and expand our business offerings, enabling us to support our clients while advancing human health.
“Today’s announcement is a welcome continuation of growth for the Almac Group, and I would like to thank everyone within the organisation for playing their part.
“Our valued global workforce is Almac’s greatest asset providing the foundation for our success.
“Almac is dedicated to ensuring we remain a global leader in our industry, giving our clients and ultimately patients across the world the best possible offering.
“We continue to play our part as a valued and trusted member of the communities in which we operate.”
Almac Group was also recognised at the 2024 Belfast Telegraph Business Awards, in partnership with Ulster Bank, picking up two major accolades in the ceremony which was held at Belfast Crowne Plaza Hotel on May 2.
The panel, led by Belfast Chamber chief executive Clare Guinness, commended the firm as it was named Outstanding Business of the Year.
They said: “Almac’s turnover has grown significantly year-on-year, but it stands out for its ethos, values and its commitment to Northern Ireland.
“It has also adopted science-based climate targets, including transitioning to renewable energy and zero waste to landfill, and has a significant corporate social responsibility (CSR) programme, including generous donations to charity.
The panel was also impressed by Almac Group’s expanding footprint in Northern Ireland, with the recent completion of two new purpose-built facilities in Craigavon to grow its manufacturing, packing and peptide production capabilities. It has also announced a proposed new centre of excellence for drug discovery with Queen’s University Belfast.
Richard Shannon, vice president of business development at Almac Group, said: “It is a massive achievement to receive this award and we are extremely grateful to be recognised for our work.
“Almac is an organisation based in Northern Ireland and that is where our heart lies.
“To be recognised at home, within our own part of the world, is fantastic and we are delighted to receive it.
“It takes a lot of hard work, teamwork and dedication to pick up award like this. Without the leadership and employees at Almac, achieving an award of this prestige wouldn’t be possible.”
Almac Group also won the Best Large Company of the Year Award, sponsored by Wilson Nesbitt, which was collected by marketing director Laura Montgomery.
She said: “We are delighted to have been named as Best Large Company of the Year. Almac is deserving of this recognition, but we were up against a lot of other big companies, so we are delighted to have picked it up.
“The best thing about this company for me is the culture it fosters.
“It has been running for over so many decades now, and we’ve witnessed a lot of growth over the years.
“Although we are now a large company, over the years we have put the effort in to maintain a good and strong company culture. I think most of our colleagues would agree that is the best thing about working here.”
“From an Almac perspective, I think there is a perception that we are solely a pharmaceutical company, but we offer many roles within the business such as HR, marketing, legal and so on.
“As we have grown into such a large company, we have a lot of other roles that maybe not everyone would expect. If you are interested in working for Almac and you are under the impression that you couldn’t do a job because you aren’t qualified in pharmaceutics, I encourage you to have a look.”