25th Oct 2022 12:43
Ixico PLC - London-based neuroscience data analytics company - Expects revenue in year ended September 30 to be GBP8.6 million, down from GBP9.2 million the year before. Says year-on-year revenue fall reflects the "impact of the early cessation of client trials during the year". Order book amounts to GBP16.0 million at year-end, down from GBP18.8 million in prior year. "This reflects the signing of GBP12.6 million of new contracts during the year, offset by the delivery of GBP8.6 million revenue and GBP6.8 million contract value reductions due to the early client trial cessations and minor foreign exchange differences", Ixico notes.
Says revenue guidance for financial 2023 remains unchanged. In May, Ixico reported a fall in pretax profit to GBP201,000 in the half-year ended March 31, from GBP635,000 a year ago due to the impact of cancelled client trials. Revenue dropped to GBP3.9 million from GBP4.9 million.
Chief Executive Officer Giulio Cerroni says: "The company has delivered a strong close to the year as new contracts signed in the early months of 2022 initiate. The investments and adoption of our technology platform in new clinical trials enable us to continue to build our position as a trusted partner of choice to the global biopharmaceutical industry."
Current stock price: 30.06 pence, down 4.6% on Tuesday afternoon in London
12-month change: down 58%
By Xindi Wei; [email protected]
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