Ergomed plc AGM Statement (4052B)
10 Junio 2021 - 01:00AM
UK Regulatory
TIDMERGO
RNS Number : 4052B
Ergomed plc
10 June 2021
PRESS RELEASE
Annual General Meeting Statement
Guildford, UK - 10 June 2021: Ergomed plc (LSE: ERGO) ('Ergomed'
or the 'Company'), a company focused on providing specialised
services to the pharmaceutical industry, announces the following
update from Dr Miroslav Reljanović, Executive Chairman, in advance
of the Company's closed Annual General Meeting ('AGM') to be held
this morning at 9.30am :
"Ergomed has had a strong start to 2021. In the year to date,
the conclusion of our strategic transition to a services-based
business model, coupled with our ongoing resilience globally
through the COVID-19 pandemic, has enabled the Company to build
further on the momentum seen in 2020.
"The Company has continued to make significant strategic
progress in the current year. With the integration of the Ashfield
Pharmacovigilance business successfully concluded, PrimeVigilance,
the Company's pharmacovigilance division, has seen continued strong
growth in revenues in line with prior trends. In the CRO business,
integration of MedSource, which was acquired in December 2020, is
progressing well and our CRO business as a whole is seeing further
acceleration in the growth that resumed in the second half of
2020.
"Alongside strong organic growth, the integration of the two new
businesses is continuing to fuel rapid development of the Company's
operational presence in the US. At the same time, the Company's
international growth is continuing, with ongoing expansion into
further geographic areas, including the recently announced new
operation in Japan , the fourth largest pharmaceutical market in
the world .
" With continuing strong sales and order book growth, solid
trading in the first months of the year, effective cost management
and acquisition synergies, the Board currently expects adjusted
EBITDA for the full year to be materially ahead of market
expectations. Reported revenues for the full year are expected to
be in line with market expectations, notwithstanding a higher
proportion of US dollar denominated revenues leading to some FX
headwinds.
"In accordance with our usual practice, in July 2021 we will
provide a more detailed report on current trading and a further
update on the outlook for the 2021 financial year as a whole.
"Finally, on behalf of the Board, I would like to thank all of
the Company's colleagues and shareholders for their continuing
support through the challenging times of the past year, as we look
forward with optimism to the rest of the year."
ENDS
Enquiries:
Ergomed plc Tel: +44 (0) 1483 402
975
Miroslav Reljanović (Executive Chairman)
Richard Barfield (Chief Financial Officer)
Numis Securities Limited Tel: +44 (0) 20 7260 1000
Freddie Barnfield / Matthew O'Dowd (Nominated
Adviser)
James Black (Broker)
Consilium Strategic Communications Tel: +44 (0) 20 3709 5700
Chris Gardner / Matthew Neal ergomed@consilium-comms.com
Angela Gray
About Ergomed plc
Ergomed provides specialist services to the pharmaceutical
industry spanning all phases of clinical development, post-approval
pharmacovigilance and medical information. Ergomed's fast-growing
services business includes an industry-leading suite of specialist
pharmacovigilance (PV) solutions, integrated under the
PrimeVigilance brand and a full range of high-quality clinical
research and trial management services under the Ergomed brand
(CRO). For further information, visit: http://ergomedplc.com .
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END
AGMFFFEIRSIAIIL
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June 10, 2021 02:00 ET (06:00 GMT)
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