Feedback H1 revenues seen 200% higher YOY
By Iain Gilbert
Date: Monday 19 Dec 2022
(Sharecast News) - Medical technology company Feedback said on Monday that revenues had risen roughly 200% in the six months ended 30 November as the group traded in line with internal and external expectations throughout the half.
Feedback said revenues had been positively impacted by the 12-month extension of the firm's pilot programme to provide its Community Diagnostic Centre solution in Sussex, with the £500,000 contract being heralded as an "important milestone" for the company.
The AIM-listed group stated revenue for the period was expected to be roughly £600,000, up from £200,000 a year earlier, while cash and equivalents as at 30 November were pegged to be reported as £9.2m - up from £11.4m twelve months prior.
Looking forward, Feedback said the company will continue to discuss contracts with multiple potential partners across NHS Trusts and CDCs in addition to working on pilot programmes in India.
"These opportunities provide the potential for significant upside with a growing number of routes to markets and end customers underpinning the board's confidence in continued strong growth for the remainder of the financial year," said Feedback.
As of 0920 GMT, Feedback shares were up 1.73% at 86.98p.
Reporting by Iain Gilbert at Sharecast.com
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