Chiltern Acquisitions Contribute to 44% Revenue Increase
Friday, July 17, 2009
Chiltern International reported a 44% revenue increase for the year ended March 31, 2009, due in large part to acquisitions. The UK-based CRO attributed 15% of its growth to acquisitions, including the recent acquisition of Brazil CRO Vigiun.
Chiltern’s revenues were 73.7 million pounds ($120.9 million), compared with 51.2 million pounds for year ended March 31, 2008. The CRO’s operating profit was 244,000 pounds ($400K), compared with a loss of 1.1 million pounds in 2008.
Commenting on the results, Chiltern CEO Glenn Kerkhof said,”We are growing significantly faster than the sector average … We continue to develop and deepen our experience and expertise in each of our business units and expand our geographic network. We look forward to another year of progress despite the difficult market conditions.”