Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

Ergomed confident for rest of 2022 and beyond

Orders during the half rose to £285mln, up nearly 19% from the start of the year.

Ergomed confirmed another half of strong sales as demand from the pharmaceutical industry for its services continued to grow, especially in North America.

US and Canadian revenues rose 25% to £44.3mln while by division pharmacovigilance was up 23% and clinical research by 26% including £4mln from February's acquisition ADAMAS.

Underlying profits [EBITDA] increased 14% at £13.8mln with pre-tax profit 10% higher at £9.5mln.

Ergomed had already announced interim sales to end-June 2022 had risen by 25% to £69.9mln and it had net cash of £12mln at the period end.

Orders during the half also rose strongly to £285mln, up nearly 19% from the start of the year.

Miroslav Reljanović, executive chairman, added: "Ergomed has delivered further significant strategic progress in H1 2022 with continued strong organic growth, ongoing delivery of value from recent acquisitions including ADAMAS, and further organic expansion into new geographies of strategic importance.

"The company is trading in line with current market expectations and we look forward with confidence to the rest of this year and beyond."

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK