Ergomed rises as it beats expectations

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Ergomed rises as it beats expectations
Master Investor Magazine

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AIM-listed pharmaceutical industry service provider Ergomed (LON:ERGO) watched its share price climb by 6.98% to 460p (as of 13:30 GMT) as it said adjusted EBITDA for 2019 was ahead of forecasts. Revenues for the year were up by 26% and management said that the outlook for 2020 was positive with a strong order book.

Executive Chairman Dr Miroslav Reljanović commented: “2019 has been a transformational year for Ergomed. The momentum seen in the first half has continued and the business has performed ahead of market expectations for the full year. Our recent acquisition of Ashfield Pharmacovigilance marks a further major step in our strategy, establishing a broader platform in the US and a substantially enlarged client base. With a robust financial position, strong order book and strengthened leadership team, we are firmly positioned to deliver on the promise of becoming a leading mid-tier pharmaceutical services specialist with a global presence“.

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