The local investment has been outlined alongside a £200 million global capital investment plan “to meet increased client demand” over the next three years.
A recruitment drive, meanwhile, is expected to see more than 1,000 new roles created in Northern Ireland.
In its financial results for year ending 30 September 2021, Almac recorded a £58 million (8.6%) rise in turnover from £677 million in 2020 to £735 million in 2021. Pre-tax profits were recorded at £81 million, up from £64 million (27.1% increase) for the same period the previous year.
The report also detailed an increase in Almac’s average employee figures from 5,466 to 5,783 (5.8%) during the period of October 2020 to September 2021. Current employee numbers for the Group now sits at over 6,500 and a current global recruitment drive will increase the total number to over 8,000 over the next three years, with over 1,000 of these new roles planned for Northern Ireland.
Almac is at the forefront of developing, manufacturing, testing and distributing essential medicines to vulnerable patients around the world. During this financial year the group was involved in the development of over 300 life-saving drugs spanning more than 20 therapeutic areas including oncology, cardiology, immunology, gene therapy and neurology. Almac was also instrumental in supporting over 200 research projects for Covid-19 vaccines and treatments.
Privately owned Almac is committed to re-investing all profits back into its business and today announces a £200 million global capital investment plan to meet increased client demand over the next three years.
Investment will take place in existing Almac locations in Northern Ireland, other sites in the UK, Europe, North America and Asia.
Plans also include a £20 million investment to enhance their current business campus for employees at its global headquarters in Craigavon including two purpose-built catering hubs, featuring restaurants, mixed used dining and working areas, covered outdoor eating, breakout spaces and seating for almost 1,000 people at any one time.
Subject to planning approvals, these hubs are expected to be completed in early 2023. Additional developments currently under construction include a new purpose-built multi-level car park providing additional free parking for every employee.
Provisional plans have already been drafted for phase two of the expansion plans which include a dedicated wellness center, an employee gymnasium, a walking track around the campus and a third catering facility.
Alan Armstrong, Almac Group CEO, said: “I am hugely proud of our achievements in the last financial year. I am incredibly grateful to every one of our employees for their part in delivering these outstanding results as we continue our vital work developing life-saving and life-enhancing medicines for our clients and patients.
“Almac is committed to re-investing all our profit back into the business to ensure we are market leading for clients and offer the best possible work environment for our people.
“For our clients, we are investing £200 million on expansion to ensure we remain the global leaders in our industry and give them, and ultimately patients across the world who receive benefit from these therapeutics, the best possible offering from Almac.
“For our employees, we have already introduced a number of new measures; a bonus for all, reduced working hours, flexible and hybrid working where applicable. We are also committed to providing our employees with the best possible working environment and today’s Craigavon campus expansion announcement underlines our commitment.”