Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Attract strategic partners AZN, GSK and university of Cambridge - key lighthouse lab in the UK - helped with the design and reagent supply that is ongoing today
New hires - in first 6 month 60 new roles and continue to recruit heavily with open positions
Highlights for the first 6 months. Covid 19 has highlighted Nova's ability to rapidly scale up. Always believed that they had the ability to develop these tests and covid has allowed them to prove this. 100x manufacturing capacity increase. Derisked supply chain
Balance sheet really is transformed - NA at 31/12/19 were 31mE, 88mE at June
Nix, great stuff position at June, so where now?! Like the rapid response capability.
Excellent reporting Nixy!
Thanks Wilson, though it sounded odd.. Noisey background where I am
One other point to note is that capital expenditure is not a strong feature of the business, has also been the case this year despite the expanded revenue.
Selling point, can make significant amounts of stock and deliver quickly wherever needed
Truely transformational balance sheet. Cash level at the half year nearly 20m euro - this is after increasing inventory by 13m euro, debtors increased 27m euros and paying off ALL debt... very strong position
Ct corporation tax
in at last!!!!
I’m sure the French dude just mentioned croissants...
Perhaps I’m just hungry!! : )
They improved GM from 63% to 83% mainly because PD operates at greater margin. The move from research diagnostics to general supply also had a huge impact for them
They are used to having to tighten their belts and it has served them well now - they are not seeing an impact on their operating margins. Very strong order book and have the capital to support business now and also invest when they need. They ae using patent box in the UK growing their IP. £6m CT in the UK saved through this
Growing IP
Primer =design mainained high gross margin at 85% in H12020
"Strong control of manufacturing and margins as the business is scaled"
i really appreciate the information flow
Primer design revenue increased over 2000% to 70.6mE, due to covid portfolio. Lab revenue decreased to 1.8mE PD maintained high gross margin at 85% - strong control of manufacturing and operating costs. Have scaled up using some sub-contracting
Gross margin up 83%
EBITDA 68%
at the end of the half year 19.7mE cash having settled all of the debt... reiterating what we already know...CFO on now
Thank you bramley
great updates guys can i suggest we keep them on this one thread
900% increase on revenue at 83% GM
70% shareholders on Euronext, 30% on LSE.