Trading Update

RNS Number : 1838Z

Ergomed plc

16 May 2019

 

 PRESS RELEASE

Trading Update

Ergomed on track to exceed 2019 market expectations following a strong start to the year

Guildford, UK - 16 May 2019: Ergomed plc (LSE: ERGO) ("Ergomed" or the "Company"), a company focused on providing specialised services to the pharmaceutical industry, today announces an update on trading for 2019.

Trading year to date has been strong in both the Clinical Research Organisation Services ("CRO") and pharmacovigilance ("PV") businesses. The CRO business in particular has benefited from agreements with clients on change orders and projects concluding positively. Trading in PV remains solid and management expects this performance to be sustained throughout 2019.

As a result, Ergomed now expects revenue and EBITDA for the year ending 31 December 2019 to be materially above current market expectations.

Dr Miroslav Reljanović, Executive Chairman of Ergomed, commented: "We are still early in the year but we have seen an excellent start to 2019 across our business. Trading performance is strong in both CRO and PV and we continue to see the benefits of our focus on improved financial performance and profitability.

"Demand for our full range of pharmaceutical services is generally buoyant and we remain fully confident in the attractiveness of our specialised service offering."

Enquiries:

Ergomed plc	Tel: [phone]
Miroslav Reljanović (Executive Chairman)
Stuart Jackson (Chief Financial Officer)
Numis Securities Limited	Tel: [phone]
Freddie Barnfield / Huw Jeremy (Nominated Adviser)
James Black (Broker)
Consilium Strategic Communications - for UK enquiries	Tel: [phone]
Chris Gardner / Mary-Jane Elliott	[e-mail]
Matthew Neal / Olivia Manser
MC Services - for Continental European enquiries	Tel: [phone]
Anne Hennecke

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, profitable services business includes an industry leading suite of specialist pharmacovigilance solutions, integrated under the PrimeVigilance brand, and a full range of high-quality contract research and trial management services under the Ergomed brand (CRO), and an internationally recognised specialist expertise in orphan drug development, under PSR. For further information, visit: http://ergomedplc.com.

 

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