Lab Research records 24,5% boost in revenues in Q2 2010 in Hungary
2010-08-20
The Hungarian subsidiary of Lab Research – Canadian-based non-clinical contract research organisation – announced revenue growth of 24.5% y-o-y in Q2 2010 to $1.9m (€1.5m) from $1.5m (€1.2m) in Q2 2009. In domestic currency, the growth was even higher at 48.7%.
The overall Q2 revenues of Lab Research increased by 9.5% y-o-y to $15.2m (€11.8m) compared with $13.9m (€10.8m) in the analogous period of the previous year.
The company attributes the growth to an increase in contracts signed with Japanese clients and to the expansion of its biotech/pharma clientele by 5 units, which followed the 2008 site good laboratory practice (GLP) recertification. The company also pointed to the importance of its new business development platform.
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