Avacta Group bullish on outlook

Diagnostic technology provider Avacta Group posted a jump in 12-month revenues and predicted substantial progress over the coming financial year.

Diagnostic technology provider Avacta Group posted a jump in 12-month revenues and predicted substantial progress over the coming financial year.

Group revenue grew 28% to £3.13m, but saw its operating loss widen to £1.64m, from £1.13m the year before.

This amounted to a loss per share of 0.04p, unchanged from the previous year.

Total revenue included £1.64m from Avacta Analytical assisted by the contribution of the 21 Optim installations and associated consumables and £1.49m from Avacta Animal Health.

However, the firm said it was disappointed in the delay to the commercial launch of its AX.1 point-of-care immunoassay system.

"The group has clear visibility on its short and long term commercial, technical and financial objectives and has a solid platform from which to achieve them," said Chairman Gwyn Humphreys.

"The board anticipates substantial progress across its operations in the current financial year."

MM

Recommended

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
6 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
2 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

Share tips of the week – 3 February 2023
Investments

Share tips of the week – 3 February 2023

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages
3 Feb 2023
The best one-year fixed savings accounts - February 2023
Savings

The best one-year fixed savings accounts - February 2023

Earn almost 5% on one-year fixed savings accounts.
6 Feb 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Wholesale gas prices are on a downward trajectory, but does this mean lower energy bills later this year?
6 Feb 2023