The growing European Contract Research Organisation (CRO) has reported final results for the year to December 2015. Revenue growth of 135% to €11.47m exceeded our already upgraded revenue forecast of €11.2m. Underlying Group EBITDA showed a €1.9m swing from a €1.53m loss to a profit of €0.39m vs our forecast of €0.49m. We attribute this shortfall to development costs at Innovenn. EBITDA attributable to the CRO business was €0.8m. Depreciation and amortisatio
12 May 2016
Revenues +135% and EBITDA positive
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Revenues +135% and EBITDA positive
hVIVO plc (HVO:LON) | 28.2 0 0.0% | Mkt Cap: 192.2m
- Published:
12 May 2016 -
Author:
Derren Nathan -
Pages:
6
The growing European Contract Research Organisation (CRO) has reported final results for the year to December 2015. Revenue growth of 135% to €11.47m exceeded our already upgraded revenue forecast of €11.2m. Underlying Group EBITDA showed a €1.9m swing from a €1.53m loss to a profit of €0.39m vs our forecast of €0.49m. We attribute this shortfall to development costs at Innovenn. EBITDA attributable to the CRO business was €0.8m. Depreciation and amortisatio