PRG.L Regulatory News (PRG)

2 Jul 2007 07:00

Premier Research Group02 July 2007 FOR IMMEDIATE RELEASE 2 July 2007 Premier Research Group Trading Statement Highlights •Full year trading in line with consensus forecasts •Continued confidence in longer term market and business outlook •Pipeline remains strong, up 8% from the year end to £141 million •Acquisition integration continues to deliver sales and delivery synergies •Book-to-bill ratio remains greater than 1 Premier Research Group plc (AIM: PRG), the international pharmaceutical servicesgroup, today announced that it continues to trade in line with consensusforecasts for the full year and that it continues to have confidence in the longterm market and business outlook. Underlying proposal activity remains strong with sales and delivery synergiesbeing attained as a result of rapid integration of acquisitions. The Group has continued to win new contracts and the book to bill ratiocontinues to be greater than 1. Following recent investor concern regarding the movement of the working capitallevels the Group is pleased to announce that at the half year and thereafter thegross revenue figures will also be reported. Gross revenues have a directrelationship to the working capital position and it is intended that thisgreater transparency will provide investors with an additional indicator withwhich to monitor working capital trends. The Group's exposure to foreign currency translation remains in line withconsensus forecasts. Dr Simon Yaxley, Chief Executive of Premier Research, said: "New order intake for the year to date remains strong. The market for outsourcedclinical research services continues to be buoyant and, for when the time isappropriate, our pipeline of potential acquisition targets is healthy. Thisleads us to conclude that the business remains in good shape for the currentyear and beyond." Enquiries: Premier Research Group plc Tel: 01344 752375Dr Simon Yaxley, Chief Executive Officerwww.premier-research.com Buchanan Communications Tel: 020 7466 5000Lisa BaderoonRebecca Skye Dietrich Evolution Securities Tel: 020 7071 4300Simon Leathers About Premier Research Premier Research is a growing contract research organisation (CRO) involved inthe design and execution of clinical trials (Phases II-IV) on behalf ofpharmaceutical and biotechnology companies. Premier is established in threetherapeutic areas - oncology, CNS (central nervous system) and anti-infectives -with a strong underlying expertise in paediatrics. Through a focused approach toclinical management, the company has built a reputation with its customers fordelivery of its services, and has demonstrated organic growth following itsrecent acquisitions. Premier has also established itself as an activeparticipant in the consolidation activity within the sector. This information is provided by RNS The company news service from the London Stock Exchange