21 January 2016 – trading update
A trading update has been released ahead of final results, due out on 2 March. Full year profitability for 2015 will be ahead of market expectations, despite the impact of unhelpful currency movements. Adjusted profit before tax growth of approximately 23% year on year is anticipated, with net fee income approximately 10% ahead of 2014. Net debt is expected to fall to £7.3m, a reduction of 26% over the course of the year. This includes the term loan to help fund the acquisition of Pharmaceutical Strategies. The shares remain a BUY.