Clinigen hails IPO a success as sales soar
BURTON-on-Trent pharmaceuticals business Clinigen has seen its revenue increase by 49% in the 12 months ended June 30.
Sales were also up by 49% over the period.
In its first set of results since it floated last September, the firm reported revenue had increased to £122.6m (FY12: £82.1m) driven by strong growth across all operational businesses.
The preliminary results also showed sales rose to £87.8m while full year gross profit was up 13% to £11.4m.
In terms of its underlying divisions, Clinigen GAP revenue grew more than six-fold to £10.5m while full year gross profit was up more than five-fold to £3.9m.
And Clinigen SP demonstrated full year sales of £24.3m (+12%) and full year gross profit of £19.8m (+8%).
Clinical Trial Supply sales performance was driven by sizable anti-viral studies and increased activity in the US.
Chief executive officer Peter George, said: “We have over-delivered on our commitments made at the time of the IPO last September.
“In turn, the listing on AIM has lived up to our expectations. It has provided a stronger platform from which to drive our organic growth, both in the UK and internationally, as well as giving us additional financial flexibility to support our acquisition plans and the acceleration of our international growth strategy.
“The IPO has also enabled greater investment in the infrastructure and recruitment of additional high quality people to the business.
“Our ambition for the next financial year is to maintain this momentum across all three operating businesses; principally organic growth for CTS and GAP, and through further acquisition of products for SP. Geographically, we are focusing our attention on the US, Latin America and Asia.
“With a sound financial base, an increasing international footprint, as well as the recent organisational changes, we have the right foundations to continue the scale-up of the business and maintain our growth.”
