30th Jun 2016 07:38
LONDON (Alliance News) - Venn Life Sciences Holdings PLC on Thursday said it was on track to deliver full year revenue in excess of EUR16.0 million and expected to record a pretax profit for the first time, with visibility good for the second half.
The clinical research organisation said revenue for the six months ended June 30 will exceed EUR8.0 million, which is a "considerable increase" on the same period a year earlier, when revenue came in at EUR4.3 million.
In light of this strong first half and good visibility for the second, Venn Life said it is on track to deliver revenue in excess of EUR16.0 million for its full year, to end December 31, and to record the company's first profit at the pretax profit level, in-line with market expectations.
Venn Life said it continued to seek a new chairman for the company and is in advanced talks with suitable candidates, adding that it expects to announce a new appointment by the end of July.
Shares in Venn Life were up 9.0% at 26.70 pence on Thursday.
By Hannah Boland; [email protected]; @Hannaheboland
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