Synectics Regulatory News (SNX)

26 Jan 2007 07:01

Synexus Clinical Research PLC26 January 2007 Synexus Clinical Research plc ("Synexus or the Company") Trading Update Synexus, the provider of clinical research services for the pharmaceuticalindustry, announces an update on its trading position for the current year. Since the announcement of the interim results in December, the Company hascontinued to receive a strong level of enquiries and to build its forward orderbook. However, the business can be adversely affected by delays in startingdates for studies for reasons outside its control. Several such contractedstudies, due to start in the January-March period, have been delayed at shortnotice by clients. Although the studies have been deferred for relatively short periods, becausethis period coincides with the historically strong quarter for profitscontribution, the delays will have a significant impact on profits for thecurrent year, depressing them below last year's result. At the interims, the Company indicated action was in hand to further strengthenthe management team at senior level. The directors anticipate an appointment ofa seasoned industry executive as COO will be concluded shortly. The fundamentals of the business remain strong. The order book stands at£16.1 million (30.09.06: £15.7 million), giving a book-to-bill ratio of 1.5,while bids are at £23.6 million (30.09.06: £22.8 million). The directors, therefore, anticipate a good recovery in the next financial year. Press enquiries Synexus Clinical Research plc Tel: +44 (0)1257 230723Michael Fort, Chief Executive Biddicks - Financial Public Relations Tel: +44 (0)20 7448 1000Zoe Biddick This information is provided by RNS The company news service from the London Stock Exchange