Yourgene Health PLC – Half year trading update

Yourgene Health PLC – Half year trading update

Manchester, UK – 14 October 2019: Yourgene (AIM: YGEN), a leading international molecular diagnostics group, provides a positive trading update for the six months to 30 September 2019.

 

Revenues for the six months to 30 September 2019 were £7.8m, up 98% on the equivalent prior year period (six months to 30 September 2018: £3.9m), and in line with management expectations. International revenues continue to show very strong momentum, with the Elucigene Diagnostics business, acquired on 26 April 2019, contributing primarily to UK and European sales growth. International revenues include the Group’s first US sales as reported in our AGM statement. Organic growth, excluding contributions from the Elucigene acquisition, was 56%.

 

Regional segments

6 months to 30 Sept 2019

£m

6 months to 30 Sept 2018

£m

UK

1.1

0.8

+35%

Europe ex-UK

1.6

0.8

+90%

International

5.1

2.3

+122%

Total

7.8

3.9

+98%

 

Revenues from non-invasive prenatal testing (NIPT) products and services grew globally at 34% despite the UK and Europe being in a period of transition to a product format which is compatible with Illumina’s next-generation sequencing technology. This new product will be rolled out in European markets during 2020. 

 

Revenues are showing greater diversity with 20% derived from reproductive health products generated by the acquired Elucigene Diagnostics, and 17% derived from the Group’s rapidly growing oncology and research services activities in Asia.

 

Product segments

6 months to 30 Sept 2019

£m

6 months to 30 Sept 2018

£m

NIPT

4.8

3.6

+34%

Reproductive Health

1.6

0.0

n/a

Oncology & research

1.4

0.3

+290%

Total

7.8

3.9

+98%

 

Cash and cash equivalents as at 30 September 2019 were £4.1m.

 

Lyn Rees, Chief Executive Officer of Yourgene, commented:

“I am delighted with the performance in the first half, both in terms of the organic growth delivered but also the contribution from the Elucigene acquisition and the launch of our American business. We are executing on our strategy to broaden our product portfolio and to drive growth across wider international markets. We remain on track to hit our ambitious growth targets for the enlarged Group and to meet market expectations for the full year.”

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