Source BioScience reports strong Q3

Diagnostics and genetic analysis business Source BioScience said a good performance in the third quarter meant it was on track to meet full year expectations.

The company said the three months to the end of September had been a period of sustained growth and

development with increased revenue in both its LifeSciences and Healthcare divisions.

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

The performance was underpinned by growth in the firm's cytology business (which studies cell structure), driven by the adoption of automated imaging for cervical cancer screening.

The LifeSciences division also took increasing market share for DNA sequencing in the UK.

Source said it was in a robust financial position with £2m cash as of September 30th, up from £1.8m at the end of June.

MM