12th Jun 2014 12:01
LONDON (Alliance News) - Source BioScience PLC Thursday said it continues to trade in line with management expectations for the full year, supported by acquisitions made last year, which it said will significantly boost it trading performance in the second half of the year.
In an annual general meeting statement to shareholders Thursday, the company, which provides products and services to the healthcare and pharmaceutical industries, said that trading in the current financial year has continued to build on the "robust operational performance" of the group in 2013.
Source BioScience said its Healthcare and Diagnostics division continues to perform strongly, driven by the launch of a sexually-transmitted-infection testing service last year, as well as revenue increases driven by growth of the serology business.
It said it has secured a number of STI screening and integrated sexual health tenders, with further contracts due to come on stream as the year progresses.
Its LifeSciences division, which provides DNA sequencing, has seen sequencing revenue growth driven by the expansion of the laboratory network, as well as additional European and US sequencing facilities, which it said has enhanced its global presence and enabled it access to new geographic markets.
The company said the performance of its Stability and Bio Storage division remains in line with expectations, supported by new opportunities with pharmaceutical customers.
It said it can rollout its DNA sequencing service and product portfolio in the US now that it has established storage facilities in Atlanta and Los Angeles.
Source BioScience shares were up 0.6% at 12.95 pence Thursday early afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
SBS.L