Ergomed PLC (AIM:ERGO, ETR:2EM) said it is targeting territorial expansion after reporting an “exceptionally strong year both operationally and financially.”
The pharmaceutical services business said its underlying earnings (EBITDA) will be ahead of current market expectations, partly due to strong growth in the US market.
Speaking to Proactive, chief financial officer Richard Barfield added the company is aiming for further growth by building a presence in the Asian Market.
“We’ve now established a very solid and firm presence in the US market and we’re also expanding into other territories,” Barfield said.
“We have spoken in earlier interviews about opening up an office in Tokyo that will allow us to expand our presence in Asia,” Barfield added.
As well as organically growing, Barfield said the company will look towards mergers and acquisitions (M&As) to continue expansion and to broaden the services it offers.
“We've said consistently that we believe we will be able to find value enhancing acquisitions that build on our specialist expertise,” said Barfield.
“We have over £30mln cash in the bank, as well as £30mln pounds of unutilised facilities, so we have the firepower.”
Ergomed shares were up 8.79% in midday trading, changing hands at 1122p.