Clinigen 's (CLIN) full-year trading update quashed concerns raised after a mediocre first half. The latter six months of the year to June 2016 saw excellent organic growth, while financial gains from the two recently acquired businesses are starting to be realised. Revenue and gross profit are expected to by 87 per cent and 90 per cent up year on year, respectively.
IC TIP:
Buy
at
680p
Investors were no doubt particularly pleased to see net debt come down by £9.2m to £67m - 9 per cent ahead of consensus forecasts. This reiterates the cash-generative nature of the Clinigen business model and comes in spite of several acquisition-related cash payments during the year.
