Ergomed Annual General Meeting Statement
10/06/2022 07:00
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RNS Number : 3986O Ergomed plc 10 June 2022
PRESS RELEASE
Annual General Meeting Statement
Guildford, UK - 10 June 2022: Ergomed plc (LSE: ERGO) ('Ergomed' or the
'Company'), a company focused on providing specialised services to the
pharmaceutical industry, announces the following update from Dr Miroslav
Reljanović, Executive Chairman, in advance of the Company's Annual General
Meeting ('AGM') to be held this morning at 9.30am BST.
"Ergomed started 2022 from a position of strength, with a robust order book
and strong sales momentum continuing from prior years. Over the first few
months of this year, the Company has built further on this momentum, thanks to
our resilient services-based business model and the global strength of our
offering following the successful integration of businesses acquired in prior
years. Underpinning this, Ergomed is in a robust financial position with a
strong balance sheet and cash generation.
"The Company has made further significant strategic progress in the current
year. Our organic growth has continued with year-to-date revenues increasing
in line with prior trends. Our expansion into new territories is ongoing, with
a new legal entity established in France and others in progress in Romania,
Italy, Ireland and Portugal. We have also continued to further strengthen the
Company's leadership team, attracting senior executives with significant prior
experience in the CRO, PV and pharma services sectors, and announced today the
appointment of Anne Whitaker as a new independent Non-Executive Director.
"Alongside this organic growth, Ergomed continues to execute its disciplined
M&A strategy, focused on value-enhancing and strategic acquisitions which
strengthen our position on a global scale. In February this year we announced
the acquisition of ADAMAS Consulting Group Limited, an international
specialist consultancy offering a full range of independent quality assurance
services. The transaction was immediately earnings accretive, and further
growth synergies and strategic benefits are expected in future years.
"With continuing strong sales and order book growth, together with effective
cost management, in 2022 Ergomed continues to demonstrate its resilience and
defensive characteristics, notwithstanding the challenging macro-economic
environment, and the Board expects to deliver the anticipated trading growth
and financial results for the full year in line with current market
expectations.
"In accordance with our usual practice, we will provide more detail on current
trading and the outlook for the 2022 financial year in the Company's July
Trading Update.
"On behalf of the Board, I would like to thank all the Company's staff and
shareholders for their continuing support, and we look forward to the rest of
this year with confidence and enthusiasm."
ENDS
Enquiries:
Ergomed plc Tel: +44 (0) 1483 402 975
Miroslav Reljanović (Executive Chairman)
Richard Barfield (Chief Financial Officer)
Keith Byrne (Senior Vice President, Capital Markets & Strategy)
Numis Tel: +44 (0) 20 7260 1000
Freddie Barnfield / Euan Brown (Nominated Adviser)
James Black (Broker)
Peel Hunt (Joint Broker) Tel: +44 (0) 20 7418 8852
James Steel / Dr. Christopher Golden
Consilium Strategic Communications Tel: +44 (0) 20 3709 5700
Chris Gardner / Matthew Neal / Angela Gray ergomed@consilium-comms.com
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 services business includes an
industry-leading suite of specialist pharmacovigilance (PV) solutions,
integrated under the PrimeVigilance brand, a full range of high-quality
clinical research and trial management services under the Ergomed brand (CRO)
and mission-critical regulatory compliance and consulting services under the
ADAMAS brand. For further information, visit: http://ergomedplc.com
(http://ergomedplc.com) .
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