ClearStar Outlook Confident As Revenue Increases In First Half

(Alliance News) - ClearStar Inc on Tuesday expressed confidence in achieving "strong" growth in ...

Alliance News 9 July, 2019 | 11:40AM
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(Alliance News) - ClearStar Inc on Tuesday expressed confidence in achieving "strong" growth in 2019 after reporting double-digit increase in revenue in the first half.

The medical screening company said revenue in the six months to the end of June rose 17% to USD11.6 million from USD9.9 million reported for the same period in 2018. The AIM-listed firm noted that medical information services continued to be the primary growth driver.

"This was a fantastic period for ClearStar as we delivered strong revenue growth, particularly in direct services, which increased by almost 50%. This was built on the contribution from new customers and on increasing business with our existing customers as they ramp up following onboarding as well as adopt further services," explained Chief Executive Robert Vale.

Looking ahead, ClearStar said it continues to expect to achieve strong revenue growth for 2019, in line with market expectations.

"With an expanding pipeline and a booming US jobs market, we remain confident of achieving strong growth for full year 2019 and look forward to reporting further progress," added Vale.

ClearStar shares were trading 14% higher in London on Tuesday at 61.50 pence each.

By Evelina Grecenko;

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
ClearStar Inc 39.00 GBX 0.00 -

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