PRG.L Regulatory News (PRG)

9 Feb 2005 07:00

Premier Research Group09 February 2005 For Immediate Release 9 February 2005 PREMIER RESEARCH GROUP PLC Trading Update Recently floated Premier Research continues to make good progress in line withyear end market expectations Premier Research Group plc ("Premier" or the "Company"), the internationalpharmaceutical services group which began trading on AIM on 3 December 2004,today reports on its financial performance prior to entering the close period inrespect of its maiden preliminary results for the year ended 31 January 2005. Premier has continued to make good progress and expects results for the fullyear to 31 January 2005 to be in line with expectations. Key Highlights • Continued growth in order book and excellent visibility of earnings:• Premier now has in excess of 50 active contracts with over 40 different customers and outstanding contracted orders of more than £22 million;• existing outstanding contracts continue to represent more than 2x the Group's current annualised revenue; and• the Company has recently won a number of contracts across its core therapeutic areas of expertise. The market for the Company's services, which are principally for the design andexecution of later stage clinical trials on behalf of pharmaceutical andbiotechnology companies, has remained strong. Premier specialises in threetherapeutic areas, oncology, CNS (central nervous system) and anti-infectives,with a strong underlying expertise in paediatrics. Premier expects to announce its preliminary results for the year ended 31January 2005 in early April 2005. Commenting on the Company's progress, Dr Simon Yaxley, Chief Executive Officerof Premier said: "Having successfully floated Premier on AIM, we remain on course to achieveexpectations for this year and are working hard to deliver our objectives forgrowing the business in the future, both organically and by acquisition. Ourstrong order book of new contracts continues to grow and provides us withconfidence for the current financial year. We continue to focus on our coreproposition of reducing the time, risk and cost associated with the developmentand commercialisation of new therapeutics in the specific areas of oncology, CNSand anti-infectives." For further information, please call: PREMIER RESEARCH GROUP PLC Tel: 01344 458 311Dr Simon Yaxley, Chief Executive EVOLUTION SECURITIES Tel: 020 7071 4300Matt Wood BUCHANAN COMMUNICATIONS Tel: 020 7466 5000Lisa Baderoon/Diane Stewart/Rebecca Skye Dietrich Editors Notes UK headquartered Premier is a successful and growing CRO involved in the designand execution of later stage clinical trials on behalf of pharmaceutical andbiotechnology companies. Premier specialises in three therapeutic areas - oncology, CNS (central nervoussystem) and anti-infectives - with a strong underlying expertise in paediatrics.Its clinical trial focus is on Phases II-IV. Premier's international footprint covers over 15 countries, including the twokey global markets of Europe and the USA. Blue-chip clients include Aventis,Wyeth, and the National Institute of Health in the US. Premier has an established track record of successful acquisitions, completingthree since 2002 (May 2003, May 2003 and January 2004). Premier has a targetedacquisition strategy and is an active consolidator within a fragmented CROmarket. Premier raised £8.0 million (gross) £7.35 million (net) of new money via aplacing at the price of 40 pence per share on AiM. Dealings in Premier OrdinaryShares commenced on 3 December 2004. Evolution Securities is the nominated adviser and broker. This information is provided by RNS The company news service from the London Stock Exchange