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Ergomed - Well set for an eps ‘beat’

August 2022

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:
  • 1262p
The change at Ergomed over the past three years is seismic: compared to £2.5m ebitda in 2018, this year’s forecast is £28.5m and even this is seemingly too light.Ahead of reporting around 26 September, this  month’s H1 update reported sales up an impressive 25% to just shy of £70m. Including 3.5m months from ADAMAS (whose activities straddle the group's two divisions), the drug safety monitoring (or pharmacovigilance) division grew sales 23% to £35.6m and the Contract Research Organisation (CRO) side grew sales by 26% to £34.3m.PV  remains a solid annuity type income at high gross margin whilst seven months into the year CRO has achieved close to 100% of the work to hit H2.  With no earnouts payable ADAMAS has already integra ...

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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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