14th Oct 2019 09:08
(Alliance News) - Yourgene Health PLC said Thursday its revenue nearly doubled in the first half of its financial year, in line with management expectations.
For the six months to the end of September, the molecular diagnostics group reported revenue at GBP7.8 million, up 98% from GBP3.9 million a year before.
Revenue growth mainly came from Yourgene's International division, which more than doubled to GBP5.1 million. The regional segment was buoyed by the group's first US sales, and a contribution from Elucigene Diagnostics, acquired in April for GBP8.8 million.
Revenue from the UK grew by 35% to GBP1.1 million and Europe by 90% to GBP1.6 million.
"I am delighted with the performance in the first half, both in terms of the organic growth delivered but also the contribution from the Elucigene acquisition and the launch of our American business," said Chief Executive Officer Lyn Rees.
"We are executing on our strategy to broaden our product portfolio and to drive growth across wider international markets. We remain on track to hit our ambitious growth targets for the enlarged group and to meet market expectations for the full year," said Rees.
Shares in Yourgene Health were up 5.6% at 12.14 pence on Monday in London.
By Dayo Laniyan; [email protected]
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