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Ergomed - Another big "beat"

August 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • ERGO
  • Price:
  • 573p
Having already caused brokers to upgrade last month, Ergomed has smashed the ball out of the park and said EBITDA is expected to be materially ahead of even those numbers. By division, PrimeVigilance (drug safety monitoring) continued its strong momentum with revenues +62.1% to £26.1m, helped by the Ashfield PV bolt-on (organic growth of +36%). The CRO division saw sales down 25% to £14.3m  due to the COVID-19 lockdown reducing pass-through revenues, although underlying service fee revenue was only down 6.7% to £11.1m. Ergomed picked up new contracts worth £60.2m in the six months to end June, to leave a £151.4m order book. Last month had a typo on eps forecasts, which should have read 19.7p but these have been lifted by 14% again ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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