RE: YGEN16 Apr 2020 12:04
Outlook form half year report issued 2nd December 2019 - pre COVID19 and NCYT agreement
FY20 revenues coming in close to £17m circa £8.9m FY19
Outlook
I am delighted with the transformation of the business and that the strong foundation we've established for delivering rapid growth is already delivering results. At this interim stage we are firmly on target to deliver full year results in-line with market expectations, with consensus analyst forecasts looking for revenues of nearly £17m for the year ending 31 March 2020, a considerable jump from last year's £8.9m.
I am very excited about the significant opportunity ahead of us. We have first-class products that are leading the way in the growing genetic testing market. Our IONA® test has strong reputation for reliability and accuracy and was the first CE marked NIPT product for the European Market. We are also in a position to offer our test across all sequencing platforms and we believe that the launch of the IONA® test on the Illumina platform will be a strong driver of growth next year.
We have established a significant commercial footprint and now sell into 60 territories and we are certain that we will quickly benefit from selling a wider range of products into a wider range of markets, and this in turn will be reflected in further shareholder value creation. We also expect to leverage our strong technical capabilities to develop more content, offering additional products and services to more customers as the adoption of genetic testing becomes more widespread.
We remain confident in our outlook for the year end and very excited about the prospects for further growth over the following years.