Ergomed sees FY earnings 'materially ahead' of market expectations
Ergomed said on Thursday that full-year revenue and earnings are set to be "materially" ahead of current market expectations following strong trading year-to-date.
The AIM-listed clinical development organisation said it had seen good trading in both the clinical research organisation services (CRO) and pharmacovigilance (PV) businesses.
In particular, the CRO segment has benefited from agreements with clients on change orders and projects concluding positively. Meanwhile, trading in PV remains solid and management expects this performance to be sustained throughout the year.
Executive chairman Miroslav Reljanović said: "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."
At 1015 BST, the shares were up 13% to 230.55p.