Consort Medical is a leading global contract development and manufacturing organisation (CDMO), providing advanced delivery technologies, formulation and manufacturing solutions for drugs.
Our customers include some of the world's largest pharmaceutical companies. Optimising world-class drug delivery device development and manufacture, together with drug Active Pharmaceutical Ingredient (API) and finished dose formulation and manufacture, within the same Group streamlines and accelerates our pharmaceutical customers' drug route to market.
The Group is at the leading edge of innovation and is committed to investing in patient and customer driven innovation, with the potential to create new treatments, new markets and new opportunities.
We also continue to diversify into adjacent complementary markets and technologies which leverage our core competencies in drug formulation, manufacturing and delivery.
- Strong Bespak revenue growth of 10.8%, with significant operating leverage delivering 20.4% EBIT growth and 170bps EBIT margin growth to 21.5%
- Significant growth in Aesica EBIT following reorganisation actions and streamlined operational performance: organic EBIT up £2.7m, and encouraging EBIT margin growth of 210bps to 7.4%
- Adjusted basic EPS was 20.5% higher than FY2015 at 57.6p, as a result of the strong operating leverage, and margin expansion
- Final proposed dividend of 12.56p, an increase of 7.5% reflecting the strong financial performance and the Board's confidence in the Group's prospects
- Net debt reduction from £99.2m to £97.0m, with gearing (Net debt: EBITDA) at 30 April 2016 reducing to 1.92×, achieving the Group gearing target set at the time of the Aesica acquisition
- DEV610 unveiled as DPI for Mylan generic Advair; potential GDUFA date 28 March 2017
- Bespak added two development programmes for Aeropharm, and Precision Ocular (the Group's first combined device/formulation contract)
- Completion of the semi-continuous line project development, with product approval and launch in Aesica
- Completion of post-acquisition reorganisation in Aesica, including German reorganisation, relocation of Nottingham FDD to Queenborough, and downscaling of Newcastle office
- Further progress in joint Bespak/Aesica service offering with enthusiastic market response, and first combined contract win with Precision Ocular
- Equity investment of £3.3m in Precision Ocular, with £2.0m first tranche paid up
- Successful commercial unveiling of Syrina® 2.25 compact autoinjector