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Annual Results

Clinigen adjusted earnings up 21%

28 September 2017 07:47

Global pharmaceuticals and services group Clinigen's adjusted earnings before interest, tax, depreciation and amortisation rose by 21% to £65.1m in the year to the end of June.

Adjusted gross profit - viewed by the board as the best measure of top-line growth - increased 22% to £122.8m, driven by organic growth across all operations, a full year's contribution from Link and currency benefits following the depreciation of sterling.

Other highlights:

- Adjusted EPS up 25% to 41.8p (2016: 33.4p) - Strong cash flow performance with cash generated from operations of £54.7m (2016: £49.4m) - Net debt substantially decreased by £33.1m to £35.0m (2016: £68.1m) - Full year dividend increased 25% to 5.0p (2016: 4.0p) - Strong growth across all operations - Outstanding performance in Africa and Asia Pacific Chief executive Shaun Chilton said: 'All of our business operations have performed strongly over the year resulting in a 25% increase in adjusted EPS and a 25% increase in dividend.

'We have continued to make significant progress in our strategy to build scale and capability in high growth geographies in the Africa and Asia Pacific region.

'Our strategic priorities remain unchanged - we continue to drive organic growth across all parts of the Group and search for selective acquisitions to complement our existing offering and capabilities.

'In line with this strategy, our recently announced proposed acquisition of Quantum would extend our Unlicensed Medicines capability, accelerate Clinigen's unlicensed to licensed global strategy and enable Clinigen to internationalise Quantum's existing portfolio of commercial products.

'The Group is well positioned to deliver another good year of progress and longer term the Board believes we are in an excellent position to capitalise on the substantial opportunity in our markets.'

Story provided by StockMarketWire.com

Related Company: CLIN

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