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.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
Number of high-earning women jumps 12% – how to convert income into pensionsMore women than ever are paying the highest rate of tax as record numbers succeed in high paying professional roles. But their pension saving still needs to catch up
-
Yoshiaki Murakami: Japan’s original corporate raiderThe originator of Japanese activism, Yoshiaki Murakami, was disgraced by an insider-trading scandal in 2006. Now, he's back, shaking things up
