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LONDON (Alliance News) - Novacyt SA said Thursday it expects annual revenue to be lower than expectations due to underperfomance of NOVAprep business.
However, the company said that with a reduction of the operating costs of NOVAprep combined with the strength of the remaining business, earnings before interest, taxes, depreciation and amortisation is expected to be higher than forecast.
For the six months to June 30, revenue is expected at EUR7 million with "a strong performance" in Primerdesign and Lab21 offset by lower than expected sales in NOVAprep, the company said.
The company said it decided to review its underperfoming NOVAprep business to explore ways "to maximize the future value of the assets".
Novacyt shares were trading 2.6% lower at 57.00 pence.
The company will publish its interim results on September 26.
