Ergomed posts reports of growth in trading update

By Tom Kilkelly

25 September 2023

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Surrey-based pharmaceutical services company Ergomed has posted its interim results for the six months ended 30 June 2023, with reports of strong growth being the key takeaway.

The Guildford firm saw a 9.8 per cent increase in revenue, going from £69.9 million last year to £76.7 million this year.

Gross profit was also up 9.4 per cent, going from £28.9 million last year to £31.6 million this year. The company has attributed this growth to a number of factors, including a strong order book and the 20 per cent growth of its new business pipeline.

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Dr Miroslav Reljanović, Executive Chairman of Ergomed, said: "As announced in the trading update on 25 July 2023, Ergomed has made a very solid start to the year demonstrating continued growth and reflecting the global appeal of our offering to our clients, the strength of our business model and the resilience of the markets we address.

''We have continued to execute on our strategy to transform the business by investing in technology and our commercial infrastructure and believe the potential of these investments is reflected in the robust year over year growth of our new business pipeline.

''In addition, we have maintained our focus on prudent cost management, and executing our disciplined approach to M&A. We expect to deliver on our expectations for financial results for 2023, and we look forward with confidence to the rest of this year and beyond."

By Tom Kilkelly

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022.

During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan).

His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.