24th Mar 2016 08:30
LONDON (Alliance News) - Contract research company Venn Life Sciences PLC on Thursday said revenue outpaced market expectations in 2015.
Venn said it expects to report that revenue for the year to the end of December was more than double the EUR4.9 million it reported a year earlier, around 15% ahead of market expectations.
The company added it expects to report positive earnings before interest, taxation, depreciation and amortisation for 2015, having recorded a EUR1.5 million loss in 2014.
"I am delighted that the business has shown such a strong performance in 2015, and we have done this by building upon our reputation for delivering excellence to our clients and the expansion of our geographical reach and service capabilities which have enabled Venn to secure larger enterprise level contracts," said Venn Chief Executive Tony Richardson.
Richardson added the trading performance has continued into 2016.
Venn will publish its 2015 results on May 10.
Venn Life Sciences shares were up 12% to 21.00 pence early Thursday, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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