Updates

Clinigen

November 2016

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.

Latest full year results show Clinigen has found its second wind. We had felt it would when we noted last month that the fall in Sterling was going to benefit it (80% of gross profit is outside the UK). As it was, sales grew to £345m driven by the acquisitions of Idis and Link. Pretax profit was up from £28.8m to £48.8m for adjusted eps of 33.1p.Reported gross profit increased 79% to £102m and had all the constituent parts been in place for both years, gross profit would have been up 7% on a proforma basis.These results are reported across five divisions. Specialty Pharmaceuticals (SP) saw 10% growth in gross profit to £31.9m and its high margins make it the swing factor. To recap, SP acqui ...

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Filtronic

Majestic Wine

Clinigen (October 2016)

Clinigen (October 2015)

Clinigen (August 2015)

Clinigen - Completes £225m Idis acquisition (June 2015)

Clinigen (April 2015)

Clinigen (February 2015)

Clinigen - Acquires speciality products (September 2014)

Clinigen - Company reassures investors with trading update (August 2014)

Clinigen (March 2014)

Clinigen - Growing rapidly into valuation (February 2014)

Clinigen - On lookout for 3-5 more deals (November 2013)

Clinigen - Another upgrade to forecast (September 2013)

Clinigen - First of half a dozen deals (April 2013)

Clinigen - Acquisition anticipated in March (March 2013)

Clinigen - Trial services to grow at 17% annual clip (December 2012)

Clinigen - New issue growing like topsy (November 2012)

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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