Manchester-based molecular diagnostics firm Yourgene Health plc said on Thursday its unaudited revenues for the financial year ended March 31, 2021, rose 10% to £18.3 million.
It said its guidance for the new financial year remains unchanged — with revenues expected to be in excess of £25 million.
In a trading update, Yourgene said this was “in line with recently issued guidance and reflects strong performances for European core revenues and for Covid-related testing products and services focused on the UK, more than offsetting the pandemic headwinds affecting international sales as previously outlined in our trading update issued on 8 February 2021.”
In its outlook, Yourgene said: “Recent senior hires in the US and in Europe and a more locally aligned commercial organization mean that the group is well set up to drive further growth in the core business, even with continuing travel restrictions until full international mobility restarts.
“Yourgene’s Clarigene SARS-CoV-2 test continues to meet stringent PHE quality criteria and the group’s testing services and product sales remain focused on the UK market.
“We continue to assess suitable opportunities to expand these services selectively outside the UK, given the greater price sensitivity in other markets.
“Guidance for the new financial year remains unchanged at this time, with revenues expected to be in excess of £25m.”
Yourgene CEO Lyn Rees said: “The business has performed well in delivering double digit growth in the most challenging set of market dynamics.
“It is pleasing to see NIPT growth in Europe and the continued acceptance and growth of DPYD testing across our customer base.
“Whilst recruiting and onboarding new customers continues to be a longer process than in pre-pandemic times, our more localised sales organisation is well placed to convert a strong pipeline of opportunities for the year ahead.”