27th Feb 2019 08:55
LONDON (Alliance News) - Clinigen Group PLC on Wednesday described its interim performance as "good", with revenue rising 24%, but profit did fall on the prior year.
For the six months to the end of 2018, the pharmaceuticals company posted pretax profit down to GBP12.9 million from GBP15.8 million.
On an adjusted basis, excluding acquisition & restructuring costs and the amortisation of intangibles and products, pretax profit increased 16% to GBP36.7 million.
Revenue rose to GBP208.9 million from GBP167.8 million a year prior, while adjusted earnings before interest, taxes, depreciation and amortisation were up 22% to GBP41.8 million.
Looking ahead, the company said it started the second half of the year well with trading in line with the board's expectations.
"We remain well placed to deliver on our vision to be the trusted global leader in the global supply and distribution of critically important hospital medicines," Chief Executive Shaun Chilton said.
Clinigen upped its interim payout by 11% year-on-year, proposing a dividend of 1.95 pence per share, from 1.76p a year ago.
Clinigen shares were trading down 0.8% at 908 pence each on Wednesday.
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