1st Feb 2016 09:30
LONDON (Alliance News) - Drug development services company Ergomed PLC Monday expressed confidence for 2016 and beyond, as it saw revenue rise 25% in 2015.
Ergomed said its revenue for the year to end December was around GBP29 million, up from the GBP24 million it reported in 2014 on a pro forma basis, meaning including its acquisition of PrimeVigilance for the entirety of 2014.
The company won around GBP28 million in contracts during the year, it said, including new and repeat clients. Ergomed closed 2015 with a total backlog of contract work from all of its business segments with a value to be invoiced in the future of around GBP59 million, it said.
"With a significant proportion of revenue already secured for 2016 and a promising late stage co-development pipeline, Ergomed is well placed to continue to grow and develop its strategy and I look forward to 2016 and beyond with confidence," said Chief Executive Officer Miroslav Reljanovic in a statement.
Shares in Ergomed were up 0.9% at 169.50 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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