HZD.L Share News (HZD)

(ShareCast News) - Horizon Discovery posted half year revenue of £8.6m, 112% up on the same period of last year.The AIM listed company said it had strong growth in product and service business revenues, and said it was eligible for further research and development revenues of up to £158 million plus future product royalties.Horizon said because revenues are weighted toward the end of the year, it was likely to meet market expectations.Chief executive Darrin Disley said the company was focused on making strategic investments and was looking to scale its products business.N + 1 Singer had a 'hold' rating on the stock and was reviewing its forecast.Analysts said the first-half update was "solid" and noted £8.6m in revenue for the half year was about 43% of consensus revenue for the full year 2015.Shares were up 2.02% to 161.70p at 0833 on Monday.