Aptamer warns on FY revenues
By Iain Gilbert
Date: Tuesday 03 Jan 2023
(Sharecast News) - Biotech company Aptamer Group warned on Tuesday that while full-year revenues may fall short of market expectations, they were still likely to come in "materially ahead" of the level achieved in the previous financial year.
Aptamer stated that although revenues were generally expected to be second-half weighted, this had been exacerbated in 2022 due to "a number of factors" - including customer delays and general economic conditions.
As a result, the AIM-listed group said H1 revenues were expected to be in the region of £1.0m. However, Aptamer added that it has "good visibility" on its commercial pipeline going into the second half, including a further £1.0m of currently signed orders, as well as contracts in negotiation and strong expressions of interest across all three business units.
"The Group remains focused on delivering market expectations for the full year but acknowledges that the headwinds experienced in the first half may continue into 2023 and that revenue for the full year may fall below market expectations, but materially ahead of the level achieved last financial year," said Aptamer.
As of 0910 GMT, Aptamer shares were down 4.81% at 49.50p.
Reporting by Iain Gilbert at Sharecast.com
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