(Alliance News) - Clinigen Group PLC on Thursday raised its payout to shareholders as it said it is seeing opportunities for growth in its new financial year.
The Staffordshire, England-based pharmaceuticals and services group posted a pretax profit for the financial year that ended June 30 of GBP22.6 million, almost doubled from GBP12.3 million a year prior.
Revenue was up 10% to GBP504.3 million from GBP456.9 million a year before.
Chief Executive Shaun Chilton said: "The year has presented challenges, but also new opportunities for growth as the group has pivoted quickly to support efforts against the pandemic with several material new contract wins in Unlicensed Medicines and Clinical Services. There has been a strong underlying performance from Commercial Medicines despite headwinds facing Foscavir and COVID-19 related disruption to Proleukin."
The company declared a final dividend of 5.46 pence per share, up 15% from 4.75p per share a year prior. The full-year dividend was 7.61p per share, up 14% from last year's 6.70p.
Going forward, Clinigen said: "The group's medium-term guidance is for future organic net revenue growth to be between 5% to 10%, with the 2021 financial year expected to be at the lower-end due to the impact of COVID-19, which is expected to subside, and an expected launch of a generic Foscavir in the EU.
"Given the above and the timing of contracted Proleukin shipments, the first half is expected to be below the prior year followed by a return to growth in second half. This will be more evident within Commercial Medicines and Unlicensed Medicines where the impact of COVID-19 has been greater."
Chilton added: "We remain confident in achieving our objectives for the 2021 financial year - continuing to focus on both the unlicensed and licensed markets, and to demonstrate the synergistic link between the divisions. For the longer term, we have the pillars of the business in place for accelerated growth from the 2022 financial year."
Clinigen shares were up 0.2% at 648.00 pence each on Thursday morning in London.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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