19th Jan 2016 08:18
LONDON (Alliance News) - Transplantation technology company Lifeline Scientific PLC on Tuesday said it expects its revenue to come in ahead of market expectations, with operating profit set to double.
Lifeline said in December it would beat market expectations for the full year and confirmed that view on Tuesday, with revenue set to hit USD39.4 million, up 14% from the USD34.6 million made a year earlier. Operating profit will more than double, up to USD5.6 million from USD2.4 million, and the company said its pretax profit should be significantly ahead of the market view.
Lifeline said it expects further growth in 2016 following the successful regulatory approval for its entire suite of products in China.
"We are encouraged by the strong momentum seen during the second half 2015, particularly in our established North American market and the emerging Asian and South American markets where we have made significant market development investments over the last several years," said Chief Executive David Kravitz.
Shares in Lifeline were up 7.5% to 199.9 pence early Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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