Sterling Pharma Solutions has seen revenues and profits soar following a year of record new business and job creation.
The manufacturer, which opened its Cramlington base 53 years ago, specialises in developing and making active pharmaceutical ingredients for customers around the globe, and its list of clients has grown significantly, triggering multimillion-pound expansion. Last year the firm began a £10m investment programme into creating new development laboratories, as well as installing manufacturing equipment to meet growth in demand.
Now the firm has published accounts covering the year ended March 31 2022, showing a 44% increase in revenue, from £82.4m to £118.6m, while operating profit almost doubled from £16.6m to £31.2m. Profit for the financial year was £20.4m, up from £8.02m.
