Fusion showed solid FY21 revenue growth of 7% to £4.2m (vs £3.9m), particularly as client projects were delayed by the COVID-19 pandemic. Operating loss rose marginally from £1.1m to £1.2m (reported net profit in FY21 was distorted by a £1.7m non-cash, accounting charge). This reflects strong R&D investment in the new OptiMAL service; this is due to gain commercial revenues in FY23. Fusion should then experience narrowing losses on the trajectory to profitability. After a £3m gross capital raise ....
10 Aug 2021
Steady growth with leading new service in prospect
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Steady growth with leading new service in prospect
Fusion Antibodies Plc (FAB:LON) | 3.8 0 0.0% | Mkt Cap: 3.58m
- Published:
10 Aug 2021 -
Author:
Robin Davison -
Pages:
6
Fusion showed solid FY21 revenue growth of 7% to £4.2m (vs £3.9m), particularly as client projects were delayed by the COVID-19 pandemic. Operating loss rose marginally from £1.1m to £1.2m (reported net profit in FY21 was distorted by a £1.7m non-cash, accounting charge). This reflects strong R&D investment in the new OptiMAL service; this is due to gain commercial revenues in FY23. Fusion should then experience narrowing losses on the trajectory to profitability. After a £3m gross capital raise ....