Chiltern grows market share in FY 2010; plans global expansion
For the 12-months ended March 31, the privately-owned contract research organisation (CRO) posted revenue of £81m (€97m), an increase of some 10 per cent on the amount earned in the previous financial year.
CEO Glenn Kerkhof said the year had seen considerable growth of new business awards, up 16 per cent to £134m, which “increased [Chiltern’s] market share.”
Kerkhof also partly attributed Chiltern’s improved performance over the period to “[the] relationships we are building with our pharmaceutical and biotechnology clients.”
He did not disclose which specific customers had been most important to Chiltern's business, other than to say that the firm's largest drug industry client had contributed 7.8 per cent of its revenue.
Global network
Kerkhof also hinted at Chiltern’s plans for the next 12-months, explaining that: “We continue to develop the Chiltern brand and expand our geographic network and are looking forward to another year of growth and development.”
Again, while further information on the expansion was not forthcoming, the comments suggest the UK CRO’s recently opened offices in Australia and Singapore may not be the last it sets up over the next 12-months.
Further support for this idea comes from the fact that global growth has also been very much on the agenda at Chiltern’s owner Czura Thornton in recent times.
Speaking after the US investment group acquired Clearstone from MDS last year, former Chiltern executive and Czua Thorton co-founder Nick Thornton said the contract services firms would work together to expand into new geographies.
