StockMarketWire.com - Pharmaceutical company Clinigen forecast a return to earnings growth for its fiscal year 2022 after reporting a fall in core earnings as the pandemic impact weighed on demand.

For the year ended 30 June 2021, adjusted earnings before interest, taxes, depreciation and amortisation, or EBITDA, was expected to decline 10% to to £116 million, in line with guidance provided in June of £114-to-£117 million.

Revenue was expected to be £455 million, representing an increase of 12% on a constant currency and organic basis.

'Like many other companies operating in the clinical trial and hospital-based products area, Clinigen this year has seen an impact on demand from COVID-19,' the company said.

'Nevertheless, we anticipate a return to double-digit growth in the next financial year driven by the strength of our underlying business and activity levels across the group,' it added.

The group expects to publish its final results for the year ended 30 June 2021 on Thursday 16 September 2021.



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