Interim results for the six months ended 31 October 2014
Earnings growing strongly; Aesica acquisition significantly expands capabilities and opportunities for future growth
Consort Medical plc (LSE: CSRT) (“Consort”, “Consort Medical” or the “Group”), a leading global drug delivery Contract Development and Manufacturing Organisation (“CDMO”), today announces its interim results for the six months ended 31 October 2014.
Jon Glenn, Chief Executive Officer of Consort Medical, commented:
“The Group has made a good start to the year, with solid revenue growth and strong earnings growth in the core Bespak business. This has been supplemented by important new development contract wins and meaningful progress with its development and innovation pipelines. Our expectation is that the Bespak business will deliver continued growth for the full year and that it will report further material progress in its pipelines.
“The Aesica business, whose acquisition completed post period end, also delivered growth in the first half of its 2014 financial year. The Board continues to expect it to contribute strongly to earnings in the second half of FY2015 and to be materially EPS enhancing in the year to 30 April 2016 and beyond. This could potentially be supplemented over time by cross selling and revenue synergies afforded by dovetailing its capabilities with those of Bespak.
“The integration of Aesica will strengthen the Group’s position as the partner of choice for pharmaceutical companies, enabling them to streamline and accelerate the route to market for their drugs. The Board is confident in its expectations for current year trading across the enlarged Group, and remains optimistic about future prospects”.
Consort Medical plc
Tel: +44 (0) 1442 867920
Jonathan Glenn, Chief Executive Officer
Richard Cotton, Chief Financial Officer
Tel: +44 (0) 20 3727 1000
Ben Atwell / Simon Conway