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Ixico PLC - London-based medical imaging company - Posts lower interim profit for the half year ended March 31. Pretax profit falls to GBP201,000 from GBP635,000 a year ago due to the impact of cancelled client trials. Revenue drops to GBP3.9 million from GBP4.9 million.
For the rest of its financial year, company expects to "materially exceed existing market profit expectations," Ixico says. However, more impact from cancelled client trials will be felt later, firm adds, anticipating weaker revenues in the next year.
"The financial results for the half year are in line with expectations and we anticipate stronger second half trading. I am also encouraged in our progress in commercialising cutting edge analytics tools to provide clinically valuable insights to our global biopharmaceutical clients," comments Chief Executive Officer Giulio Cerroni.
Current stock price: 36.85 pence, down 11% on Tuesday
12-month change: down 56%
By Tom Budszus; tombudszus@alliancenews.com
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