Synexus Clinical Research PLC
26 January 2007
Synexus Clinical Research plc ("Synexus or the Company")
Trading Update
Synexus, the provider of clinical research services for the pharmaceutical
industry, announces an update on its trading position for the current year.
Since the announcement of the interim results in December, the Company has
continued to receive a strong level of enquiries and to build its forward order
book. However, the business can be adversely affected by delays in starting
dates for studies for reasons outside its control. Several such contracted
studies, due to start in the January-March period, have been delayed at short
notice by clients.
Although the studies have been deferred for relatively short periods, because
this period coincides with the historically strong quarter for profits
contribution, the delays will have a significant impact on profits for the
current year, depressing them below last year's result.
At the interims, the Company indicated action was in hand to further strengthen
the management team at senior level. The directors anticipate an appointment of
a seasoned industry executive as COO will be concluded shortly.
The fundamentals of the business remain strong. The order book stands at
£16.1 million (30.09.06: £15.7 million), giving a book-to-bill ratio of 1.5,
while bids are at £23.6 million (30.09.06: £22.8 million). The directors,
therefore, anticipate a good recovery in the next financial year.
Press enquiries
Synexus Clinical Research plc Tel: +44 (0)1257 230723
Michael Fort, Chief Executive
Biddicks - Financial Public Relations Tel: +44 (0)20 7448 1000
Zoe Biddick
This information is provided by RNS
The company news service from the London Stock Exchange
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