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Clinigen sees FY revenues and profits improving

By Iain Gilbert

Date: Thursday 16 Jan 2020

Clinigen sees FY revenues and profits improving

(Sharecast News) - Pharmaceutical company Clinigen expects full-year revenues and gross profits to have improved during its recently wrapped up trading year.
Clinigen said on Thursday that it now anticipates an increase of at least 24% in sales on a net constant currency basis and at least 16% on a gross reported basis, while gross profits were projected to have increased by no less than 34% on both a reported and constant currency basis - and at least 8% on an organic basis.

The AIM-listed firm said there had been good performances in commercial and unlicensed medicines, helping offset weaker performances from clinical services.

Net debt was expected to have increased to £325m from £306m.

Chief executive Shaun Chilton said: "We have had a strong start to the year, having grown organic gross profit by at least 8% in H1 2020, validating the group's unlicensed to licensed synergy strategy.

"We reiterate our expectation for FY20 growth to be towards the upper end of our organic gross profit guidance of between 5% to 10%."

As of 1100 GMT, Clinigen shares were up 1.05% at 964.50p.

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