8th Jul 2019 11:48
(Alliance News) - Diaceutics PLC on Monday said it has moved to a net cash position after retiring all outstanding debt from its balance sheet, and is on track for market expectations.
Shares in the company, which provides data analytics and implementation services to pharmaceutical firms, were down 2.7% at 82.25 pence on Monday.
Diaceutics said it "remains well positioned in key markets" thanks to "a strong sales performance". As a result, it is continuing to trade "in line with market expectations" in the first half of the year.
The company also said its increased presence internationally has improved its global offering, letting it "acquire new international clients".
Moreover, Diaceutics' Nexus software-as-a-service platform is "progressing as planned".
Having been admitted to trading on London's AIM marketed in March, all of the company's "outstanding debt has now been retired from the balance sheet", leading to net cash of GBP14.0 million.
Diaceutics will report its interim results for the six months to June 30 in "early September".
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