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Diaceutics Maiden Loss Deepens On Listing Costs; Revenue Jumps

(Alliance News) - Pharmaceuticals-focused data analytics firm Diaceutics PLC said Monday its ...

Alliance News 9 September, 2019 | 11:26AM
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(Alliance News) - Pharmaceuticals-focused data analytics firm Diaceutics PLC said Monday its maiden interim loss deepened amid listing costs, despite revenue rising a third on the year prior.

In March, Diaceutics listed in the junior AIM market of the London Stock Exchange at 76 pence per share, valuing its market capitalisation at GBP53 million. Shares in Diaceutics were 2.1% lower at 90.60p in London on Monday.

"We are delighted to present our maiden set of results since our IPO in March this year," Chief Executive Officer Peter Keeling said.

"We decided to move to AIM to continue our growth trajectory by developing our product and services offering which is focused on better testing and better treatment in the global pharmaceutical industry," Keeling added.

For the six months ended June, the pretax loss deepened to GBP2.0 million from GBP1.2 million the year prior. This was despite revenue rising by 33% to GBP4.4 million.

Profit performance was hurt by GBP2.7 million in costs related to the listing process.

"We have seen good growth since we came to market and continue to work hard on expanding the data lake and increasing our international footprint," Keeling said. "I reaffirm our outlook for the year remains unchanged."

Diaceutics did not declare an interim dividend.

By Ahren Lester; ahrenlester@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Diaceutics PLC 98.50 GBX 0.00 -

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