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23 Oct 2018 | 09:57

Collagen Solutions forecasts 13% jump in first-half revenue

Collagen Solutions said Tuesday it expected first-half revenue to increase 13% year-on-year buoyed by new development agreements that had been closed in the first quarter offsetting customer projects delays.

For the six months to 30 September 2018, revenue and other income was expected to rise 13% to £2.10m from £1.86m a year earlier.

New customer acquisition continued with nine new customer deals signed in the first half, up from eight customers acquired a year earlier.

The tissue business unit had several pending agreements, which were expected to be finalised within a further twelve to eighteen months, the company said. 'We remain on track to meet our key initiatives for the year including achieving our commercial execution plans and financial performance objectives in line with market expectations,' said Jamal Rushdy, CEO.

At 9:57am: (LON:COS) Collagen Solutions Plc share price was 0p at 3.1p

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