(Alliance News) - Clinigen Group PLC on Tuesday kept its dividend unchanged for the first half of its current financial year as revenue grew.
The AIM-listed pharmaceutical products & services company said revenue rose in the six months to the end of 2020 to GBP258.1 million from GBP243.7 million a year earlier, but pretax profit slipped to GBP22.7 million from GBP24.8 million.
Adjusted earnings before interest, tax, depreciation and amortization decreased by 9% on an organic basis to GBP54.6 million from GBP62.1 million a year before, reflecting the impact of Covid-19 and a change in gross profit mix partially offset by good cost control.
The Burton upon Trent, England-based company said it will pay a dividend of 2.15 pence a share for the half-year, unchanged year-on-year.
Looking ahead, Clinigen said it expects organic net revenue growth for the full year to be in the upper half of the 5% to 10% range, up from the lower end as previously guided, driven by the Services division.
Clinigen shares were trading 0.6% lower in London on Tuesday at 752.75p each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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