Ergomed plc (LSE: ERGO), 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.”