Diaceutics, the U.K. diagnostics company, has announced a significant increase in first-half revenue, reaffirming its full-year outlook due to strong order book growth. The company’s success is driven by the improved visibility provided by this growth.
Revenue Growth
- Diaceutics reported a 32% rise in revenue, amounting to £9.9 million ($12.7 million).
- On a constant currency basis, the revenue increase was 25%.
- Notably, 47% of the revenue in this period was recurring, representing an improvement from the previous year’s 37%.
Order Book Expansion
- The order book expanded by 43%, reaching approximately £24.1 million as of June 30.
- Of this sum, around £6.3 million is expected to be realized in the second half of the year.
Positive Validation and Outlook
- Diaceutics attributes its success and momentum during this period to the validation of its strategy.
- The company’s performance aligns with management expectations, although specific figures were not disclosed.
- Diaceutics expressed confidence in its ability to continue accelerating its growth strategy and capitalize on the market opportunity.
- They aim to become the primary commercialization partner for pharma and biotech companies launching precision medicines.
As a result of this positive announcement, shares of Diaceutics rose by 4.0 pence or 4.6% to reach 91.5 pence at 0814 GMT.