(Alliance News) - Bioventix PLC on Monday said it is excited about the scientific output of its Gothenburg Alzheimer's collaboration as it announced an increased dividend backed by higher profit.
The London-based biotechnology company said pretax profit climbed 16% to GBP5.2 million in the six months to December 31 from GBP4.5 million a year prior.
Revenue grew 13% to GBP6.7 million from GBP5.9 million.
"Sales of physical products have performed well and revenues from our vitamin D antibody and other core antibodies have all increased as anticipated. A significant element of the growth came from increased physical product sales and associated royalties from our Chinese customers," the company said.
The firm announced an interim dividend of 68 pence per share, up 10% from 62p a year prior.
Bioventix said: "Our core business has performed in line with expectations with growth in China being a key feature. Troponin revenues did not accelerate quite as expected but we continue to believe that the headwinds are temporary and operational in nature. We remain excited as the scientific output of our Gothenburg Alzheimer's collaboration slowly translates into commercial potential. We look forward to further progress in the second half of the year and beyond."
Troponin is a biomarker used in heart attack diagnostics.
Bioventix shares fell 3.7% to 4,431.00 pence each on Monday afternoon in London.
By Tom Budszus, Alliance News slot editor
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Bioventix (BVXP)