Clinigen Group plc: Strong H1 Performance with Adjusted EPS up 31%*
15 March 2017 - 6:03PM
Business Wire
Clinigen Group plc (AIM: CLIN, ‘Clinigen’ or ‘the Group’), the
global pharmaceuticals and services company, today publishes its
half year results for the six months ended 31 December 2016.
FINANCIAL SUMMARY
Six months ended 31 December
2016 2015
Growth
£m £m Reported
gross profit
58.0 40.3 44% Adjusted
gross profit
59.1 44.1 34% Adjusted
EBITDA
30.0 22.4 34% Adjusted earnings
per share
19.0p 14.5p 31% Reported
earnings per share
2.3p 1.4p 64%
Dividend per share
1.6p 1.3p 23% Net
debt
(70.9) (81.5)
Note: adjusted EBITDA and adjusted EPS metrics are now shown
after share based payments of £1.1m (2015: £1.1m). Prior year has
been restated accordingly.
HIGHLIGHTS
- Adjusted gross profit* up 34% driven by
organic growth across all divisions, a full six months contribution
from Link Healthcare and currency benefits
- Adjusted EPS* up 31% to 19.0p (2015:
14.5p)
- Interim dividend increased 23% to 1.6p
(2015: 1.3p)
- Excellent performances by Link
Healthcare and Clinical Trial Services
- Launch of Japanese business, enhancing
licensed and unlicensed presence in Asia
- Global Access added further exclusive
supply agreements
- First contracts converted from Managed
Access to Global Access
Shaun Chilton, Group Chief Executive Officer of Clinigen,
said:
“We have delivered another strong half of progress, achieving
more than 30% growth across all our key financial measures.
“Link Healthcare has achieved an outstanding performance,
demonstrating the value of the acquisition. Clinical Trial Services
delivered another excellent performance whilst Managed Access and
Specialty Pharma continued to see strong growth. It is particularly
pleasing that all the divisions contributed well to the growth.
“Our focus now is to capitalise on our international market
leading positions and the geographical footprint we have built. We
will also look for selective bolt-on acquisitions to enhance our
product portfolio, geographical footprint and / or service
capabilities.
“We have started the second half positively and are well
positioned to complete another year of strong growth.”
*Adjusted results exclude amortisation, non-underlying costs and
include the 50% share of the unaudited results from the Joint
Venture in South Africa. Adjusted results are now shown after share
based payments and the prior year has been restated
accordingly.
For the full release, please visit www.clinigengroup.com.
An audio replay of the analyst meeting will be made available
shortly afterwards via the Group’s website:
www.clinigengroup.com.
Notes to Editors
About Clinigen Group
Clinigen Group plc (AIM: CLIN) is a global pharmaceutical and
services company with a unique combination of businesses focused on
providing access to medicines. Its mission is to deliver the right
medicine to the right patient at the right time and is focused in
three areas of global medicine supply; clinical trial, unlicensed
and licensed medicines.
Clinigen Clinical Trial Services is the global market
leader in the management and supply of commercial medicines for
clinical trials.
The Group is also the trusted global leader in ethically
sourcing and supplying unlicensed medicines to hospital pharmacists
and physicians for patients with a high unmet need, through three
of its divisions: Idis Managed Access runs early access
programmes for innovative new medicines. Idis Global Access
and Link Healthcare work directly with healthcare
professionals to enable compliant access to unlicensed medicines on
a global basis and niche essential licensed and generic medicines
across Australasia, Africa and Asia (AAA region).
Clinigen Specialty Pharmaceuticals acquires global
rights, revitalises and markets its own portfolio of niche hospital
medicines.
For more information, please visit www.clinigengroup.com
Cautionary statement
This announcement contains certain projections and other
forward-looking statements with respect to the financial condition,
results of operations, businesses and prospects of Clinigen Group
plc. These statements are based on current expectations and involve
risk and uncertainty because they relate to events and depend upon
circumstances that may or may not occur in the future. There are a
number of factors which could cause actual results or developments
to differ materially from those expressed or implied by these
forward-looking statements. Any of the assumptions underlying these
forward-looking statements could prove inaccurate or incorrect and
therefore any results contemplated in the forward-looking
statements may not actually be achieved. Recipients are cautioned
not to place undue reliance on any forward-looking statements
contained herein. Except as required by law, Clinigen undertakes no
obligation to update or revise (publicly or otherwise) any
forward-looking statement, whether as a result of new information,
future events or other circumstances.
The information contained in this statement has not been audited
and may be subject to further review.
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Clinigen Group plcShaun Chilton, Group Chief Executive
OfficerMartin Abell, Group Chief Financial OfficerMatt Parrish,
Head of Investor RelationsTel: +44 (0) 1283 495010orNumis
Securities LimitedMichael Meade / Freddie Barnfield (Nominated
Adviser)James Black / Tom Ballard (Corporate Broking)Tel: +44 (0)
20 7260 1000orRBC Capital Markets - Joint BrokerMarcus
Jackson / Elliot Thomas / Jack WoodTel: +44 (0) 20 7653
4000orInstinctif PartnersAdrian Duffield / Melanie
Toyne-Sewell / Alex ShawTel: +44 (0) 20 7457
2020clinigen@instinctif.com
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