22nd Jan 2019 13:34
LONDON (Alliance News) - Novacyt SA on Tuesday said it expects its annual revenue to soar 9% on last year as it looks confidently to the new year.
For 2018, the clinical diagnostics specialist expects revenue at to come in at EUR13.7 million, up 9% at constant foreign exchange rates.
Operationally, the company said it is progressing well, with strong new product sales from the Omega ID unit being won and the manufacturing integration plan on target to being completed this year.
Chief Executive Officer Graham Mullis said: "Overall, I am pleased with the operational progress that the company is making, with a strong order book, the integration progress of the Omega ID business and the new CE Mark molecular assays launched at the end of last year with new molecular CE Mark products planned for 2019."
He added: "We are confident that the financial performance will significantly improve during 2019, with the completion of the sales of the NOVAprep and the Clinical Lab businesses."
During 2019, the firm expects to achieve earnings before interest, taxes, depreciation and amortisation profitability.
Novacyt shares were untraded at 34.50 pence each on Tuesday.
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