Ergomed PLC (LON:ERGO) executive chairman, Dr Miroslav Reljanović has told shareholders in advance of Wednesday’s closed annual general meeting that the company, which is focused on providing specialised services to the pharmaceutical industry, “had a good first quarter, with solid overall growth in revenue.”
In a statement released ahead of the AGM, Reljanović said: “Following the outbreak of (coronavirus) COVID-19 in March 2020, the Company has successfully transferred to a fully remote working operation with minimal disruption and no redundancies or furloughed staff.”
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The executive chairman added: "The Company has continued to make good strategic progress this year, with further integration of the combined business under the pharmaceutical services model. The Ashfield Pharmacovigilance business, acquired in January 2020, has been integrated in line with plans as PrimeVigilance USA, providing significant commercial benefit to the group overall. Cash generation remains strong, and the Company is in a robust financial position.
"Despite the impact of COVID-19 on the general business environment, in the second quarter of 2020 the Company has continued to grow its order book across the business and to maintain its revenue growth trend whilst implementing effective cost control measures. The Company is confident in the performance of the business for the first half of 2020."
He concluded: "In line with our usual practice, in July 2020 the Company will provide an update on current trading and the outlook for the remainder of the current financial year ending 31 December 2020.
“At this time the Company is confident that results will be in line with current market expectations for the 2020 financial year.”