Yourgene Health PLC - Manchester-based molecular diagnostics - For the year ended March 31, revenue more than doubles year-on-year to GBP37.6 million, with the majority of growth coming from the Genomics Services business on Covid PCR testing and variant sequencing.
Testing capacity continues to be repurposed towards non-Covid testing with increased capacity available as UK government policy shifts to endemic status.
Earnings before interest, tax, depreciation and amortisation margin is set to be in line with guidance of 10% of a constant currency basis.
"We are pleased that the company's performance in the last financial year has achieved the significantly upgraded guidance. The ongoing restructure will ensure that Yourgene is very well placed to meet the evolving needs of its customers by supplying an adaptable mixture of technologies and services, with our fast-growing Genomic Services offering expected to be a strong growth engine," says Chief Executive Officer Lyn Rees.
"We are committed to creating long term shareholder value and, with further expansion into the Americas markets, FY23 and beyond will be an exciting time for Yourgene," he added.
Current stock price: 9.25 pence, down 5.1% on Tuesday
12-month change: down 34%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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