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Services provider to the pharmaceutical industry Ergomed swung to a first-half profit on the back of higher sales and wider margins.
Pre-tax profit for the six months through June amounted to £4.15m, compared to a profit of £2.46m on-year.
Revenue rose 37% to £35.2m, while gross margin expanded to 41.2%, from 34.9%.
;During the first half of 2019 Ergomed has taken further significant steps to fully focus on its services business model, execute its strategy to become a leading specialised CRO services business, and fulfil its future growth potential,' chief executive Miroslav Reljanovic said.
'We have strengthened the executive team and board and further developed our differentiated offering in the clinical services marketplace both through the integration of previous acquisitions and through commercial integration.'
'With an improved financial performance over the first half of 2019 and a strong backlog and first-half sales, Ergomed is now positioned for success through continued growth.'
At 2:36pm: (LON:ERGO) Ergomed Plc share price was +4p at 296p