Sagentia's revenue ahead of expectations

7th Jul 2011 15:26

Outsourced research and development consultancy services provider Sagentia Group said its revenue grew in excess of 20% compared to last year, ahead of its expectations. Shares of the company soared 10% following the announcement, which also contained good news in the form of continued improvement in its operating margins. Sagentia recorded a strong performance in the medical sector, after a slow start, while its consumer business showed improvement in the second quarter. However, the company said the industrial sector "has become less resilient.""The strong recovery of 2010 has continued in the first half and Sagentia is actively recruiting additional resources to satisfy the current demand. The board anticipates another good year for the group," the company said. Shares of Sagentia were up 9.7% at 85p in London.AR