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24 Jul 2019 | 08:40

Horizon Discovery expects revenues to rise 14% in H1 led by bioproduction, screening business units

Horizon Discovery Group said it expected revenues to grow 13.7% in the first half the year driven by 'strong' performance in its bioproduction and screening business units. Group revenues for the six months ended 30 June 2019 were expected to be £28.6m, representing 13.7% growth on the same period in the prior year and 8.6% growth on a constant currency basis. Gross margin was expected to be in excess of 65%, up from 63% last year. The diagnostics business unit, however, had a soft first half as a result of 'some internal organisational challenges,' which had since been identified and addressed, the company said. 'The Group has a customary second-half weighting to trading due to the markets it operates in and the Board expects FY19 revenues to be in-line with current market expectations and expects to maintain a positive EBITDA performance for the full year,' the company said.

At 8:40am: (LON:HZD) Horizon Discovery Group Plc share price was -0.6p at 157.2p

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