14th Jan 2021 12:09
Clinigen Group PLC - Staffordshire-based pharmaceuticals and services provider - For the six months to the end of December, earnings before interest, tax, depreciation and amortisation are expected to be GBP54 million, reflecting a 13% fall from GBP61.8 million the same period the year before.
Net revenue is set to be GBP230 million, representing a 3% rise year-on-year from GBP224.6 million on a reported basis and 4% growth on a constant currency basis.
Looking ahead, prior guidance for net revenue growth for the year ending June 30 has remained unchained, and management expects growth to be at the lower end of the 5% to 10% medium term range.
Also, Clinigen will simplify its operating structure from three divisions - Clinical Services, Unlicensed Medicines and Commercial Medicines - into two divisions - Products and Services.
"The team has worked incredibly hard to ensure the continuation of supply of essential medicines to healthcare professionals around the world in spite of the constraints caused by Covid-19. Notwithstanding the impact of Covid-19 we have continued to deliver on our strategy in the first half as outlined by our robust top line performance," says Chief Executive Officer Shaun Chilton.
Clinigen will publish its interim results on February 23.
Current stock price: 716.50 pence
Year-to-date change: up 6.1%
By Dayo Laniyan; [email protected]
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