Despite lower revenue in the microbiology and immunoassays businesses due to a decline in routine testing, bioMerieux reported double-digit organic revenue growth in H1, led by robust demand for COVID-19 tests in the molecular biology business. The resulting operational leverage, favourable product mix and lower selling expenses led to a profitability beat in H1. The favourable sales trend witnessed in H1 should continue in the second half, though the same trend cannot be extrapolated to FY21
03 Sep 2020
Profitability beat in H1
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Profitability beat in H1
Despite lower revenue in the microbiology and immunoassays businesses due to a decline in routine testing, bioMerieux reported double-digit organic revenue growth in H1, led by robust demand for COVID-19 tests in the molecular biology business. The resulting operational leverage, favourable product mix and lower selling expenses led to a profitability beat in H1. The favourable sales trend witnessed in H1 should continue in the second half, though the same trend cannot be extrapolated to FY21