BioVentix revenue, earnings rise in first half
By Josh White
Date: Monday 25 Mar 2024
(Sharecast News) - Monoclonal antibody specialist BioVentix reported a 13% rise in first-half revenue on Monday, to £6.7m, compared to £5.9m in the prior year.
The AIM-traded firm said profit before tax reached £5.2m for the six months ended 31 December, up from £4.5m in the same period a year earlier.
Despite a dividend payment of £4.7m, BioVentix maintained solid closing cash balances of £5.5m.
The board raised the first interim dividend by 10% to 68p per share, up from 62p year-on-year.
"Our core business has performed in line with expectations with growth in China being a key feature," said chief executive officer Peter Harrison and chairman Ian Nicholson in a joint statement.
"Troponin revenues did not accelerate quite as expected but we continue to believe that the headwinds are temporary and operational in nature.
"We remain excited as the scientific output of our Gothenburg Alzheimer's collaboration slowly translates into commercial potential."
At 1139 GMT, BioVentix shares were down 1.63% at 4,525p.
Reporting by Josh White for Sharecast.com.
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