Yourgene Health PLC – Full-year Trading Update

Yourgene Health PLC – Full-year Trading Update

Yourgene Health (AIM: YGEN), the international molecular diagnostics group which commercialises genetic products and services, announces a trading update for the year ended 31 March 2019.

Trading Highlights

  • Unaudited revenues were ahead of market expectations, increasing by 45% to over £8.9m
    (2018: £6.1m), with growth in all active regions
  • Test volumes increased by 67% to over 82,000 (2018: 50,000)
  • International revenues increased by 51% to £5.9m (2018: £3.9m), reflecting continued penetration of Middle Eastern and Asian markets plus growth in non-invasive prenatal screening (“NIPT”) and oncology research services delivered from Yourgene’s Taipei facility
  • UK revenues increased by 20% to £1.2m (2018: £1.0m) from existing customers and Yourgene’s own service laboratory in Manchester
  • Other European revenues grew by 47% to £1.8m (2018: £1.2m), from a broader network of customers than in the prior year
  • In the financial year, the Group generated sales from over 30 countries within Europe, the Middle East, Asia and Africa
  • Cash at year end of £1.25m (31 March 2018: £0.28m) reflecting continued careful management of working capital
  • The development of a version of the IONA® NIPT test for use on Illumina next-generation sequencing technology remains on course for launch in early 2020
  • It is expected that results for the year ended 31 March 2019 will be released in July 2019

Lyn Rees, Chief Executive Officer of Yourgene, commented: “Since joining Yourgene in July 2018, we’ve made significant commercial progress in our existing markets as well as expanding our footprint to further new territories. We are also continuing to develop additional products and recently launched our Sage™ 32 plex test, a new higher throughput NIPT and analysis solution for clinical labs. We have redefined our relationships with Illumina and Thermo Fisher and we are now focused on the significant growth opportunity ahead of us, both within reproductive health and the wider genetic testing landscape.”

Adam Reynolds, Non-executive Chairman of Yourgene, commented: “Yourgene’s business has been transformed over the past financial year and I am delighted to see this being reflected in the Group’s trading performance. Our strengthened leadership team is now fully focused on driving the business into its next phase of growth.”

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