Parexel reports record performance in last fiscal year

Parexel has hailed its record-breaking financial performance in the fiscal year ending on June 30th 2011.

The biopharmaceutical services company's revenue for the 12 months came to a benchmark total of $1.2 billion (744.9 million pounds), with a record fourth-quarter figure of $310.5 million contributing to this.

According to chairman and chief executive officer Josef von Rickenbach, the last few months has been marked by increasing demand from the small and emerging biopharma segment, leading to strong new business results.

On the whole, the company's results for the year have met its expectations, thus supporting its plans to continue investing in growth and new business wins in 2011-12.

"The year's new business and backlog results clearly demonstrate that Parexel is a partner of choice for many clients," Mr von Rickenbach said.

This comes after an independent study published by Industry Standard Research in June 2011 showed that Parexel is ranked highest among large clinical research organisations for the predictability of its service quality.