25th Sep 2013 07:57
LONDON (Alliance News) - Clinigen Group PLC, a pharmaceutical company, Wednesday said it saw increases in revenue and pretax profits following its listing on AIM last September.
For the full year ended June 20, the company posted a pretax profit of GBP14.6 million, up from GBP10.5 million in the previous year. Revenues were up to GBP122.6 million from GBP82.2 million.
Increases in profits were due to growth in its operating businesses, Clinigen said, and it expects its Clinical Trials Supply business to be its main revenue generator in 2014.
The company proposed a final dividend of 2.0 pence, bringing its total payout for the year to 2.6p per share.
Funding from its initial public offering was put toward acquisition plans, international growth, and investment in infrastructure and headcount, the company said. A pre-IPO loan of GBP1.6 million has been paid in full, it said, leaving the company debt free.
In a statement, Clinigen said that it felt it had overachieved the commitments it made at the time of its IPO, with sales and profits ahead of market forecast. It said that revenues in the two months ended August 31 had been in line with expectations, and that it anticipates continued growth in line with its expectations for the next twelve months.
Clinigen shares were quoted at 418.55p early Wednesday, up 15.55p or 3.9%.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2013 Alliance News Limited. All Rights Reserved.
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