(Alliance News) - Cambridge Nutritional Sciences PLC on Monday said it expects to report full-year revenue growth ahead of market expectations.
Shares in Cambridge Nutritional Sciences were up 21% to 3.92 pence each in London on Monday morning.
The Ely, Cambridgeshire-based diagnostics company said it expects revenue for the year ended March 31 to be GBP9.8 million, up 31% from GBP7.5 million a year ago and ahead of market expectations.
Cambridge Nutritional also said it expects gross profit margin of around 62%, compared to 47% the year before. This is due to continued investment in production and operational improvements, the company explained.
Adjusted earnings before interest, tax, depreciation and amortisation is meant to be positive, compared to an Ebitda loss of GBP2.0 million in financial 2023.
Looking ahead, Cambridge Nutritional said its new financial year has started with good momentum and a healthy order book.
Chief Executive Officer Jag Grewal said: "I am delighted with our performance in 2024. We have delivered a very strong set of results while at the same time laying a solid foundation for the future in what is an increasingly important market of gut health diagnostics. We have strengthened both our operational performance and our organisation. I would like to acknowledge the hard work and commitment of the Cambridge Nutritional Sciences team who have been pivotal in delivering a strong performance in 2024. We look forward to an exciting 2025."
Cambridge Nutritional will release its annual results in July.
By Sabrina Penty, Alliance News reporter
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Cambr Nutri Sci (CNSL)