LONDON, December 19, 2014 /PRNewswire/ --
Richmond Pharmacology Ltd, a long established and experienced
provider of innovative services in early phase clinical research,
today reported an analysis of the financial results for the year
ended December 31, 2013 and forecasts
for 2014.
FINANCIAL HIGHLIGHTS
The latest Plimsoll Report for the industry sector shows
Richmond's position as high and rising indicating an improvement in
financial strength, in line with the industry average.
• Total Sales have increased by 44.1% in the latest
year, well above the industry average of 2.3%.
• The company is ranked 7th fastest
growing in terms of sales growth in the latest year.
• Pretax Profit Margin is 6.8% in the latest year,
above the industry average of 5.4%.
• The Trading Stability chart shows a well above
average sales return on total assets in the latest year
• The Profitability chart shows a well above
average pretax profit return on total assets in the latest
year.
"Our 2014 fiscal year is off to a very good result to September
with an encouraging outlook for the year end" said Kemal Rajabally, CFO. "The 2014 forecast is in
line with expectations and continues to show strong sales and
profitability."
"The company's results reflect the continued success of our
service platform, used by world leading pharmaceutical companies,
biotechnology firms and venture capital led start ups. Richmond's
unique patient database of close to 200,000 willing trial
participants allows early entry into single centre proof of concept
studies in patients with guaranteed savings in time and cost" said
Dr Keith Berelowitz, Director of
Operations. Dr Jorg Taubel, CEO,
points out: "The ability to include multiple ethnicities in any
study adds value to assets by opening global markets to our
clients. Our proven cardiac safety platform provides a time saving
method of de-risking early phase projects. Coupled with Dr
Ulrike Lorch's industry leading use
of adaptive trial designs in early phase clinical research allows a
full integration of our specialist skills into an early phase
package that will save up to one year to Proof of Concept; this is
a very exciting proposition to venture funded groups within a
defined pre-agreed study budget."
Dr Radivoj Arezina reported that
based on the company's persistent favourable performance, strong
cash position and positive outlook, on November 26th, Richmond's Board of
Directors expressed their satisfaction with the robust results so
far and the prospects for even better results next year. He
added: "We had a really good 2013, this has continued with a strong
performance this year and the pipeline for 2015 is looking
extremely positive."
Richmond Pharmacology Ltd is an Early Phase Full Service
Contract Research Organisation based at St George's University of London and Croydon University Hospital. The
company is focussed on the transition between non-clinical
programmes and patient proof of concept trials. Richmond
Pharmacology has one of the largest trial databases in the world
and an impressive track record in patient recruitment. For more
information visit: http://www.richmondpharmacology.com
Press contact:
Dr Jörg Täubel MD FFPM
Chief Executive Officer
+44(0)208-664-5200
info@richmondpharmacology.com