Business
Correction : Interim Results
Correction : Interim Results.
About this update from Bioventix Plc
[{"type":"text","content":"\n \n \n Bioventix plc\n \n(“Bioventix” or the “Company”)\n \n Correction - Unaudited Interim Results for the six months ended 31 December 2019\n \n \n The Company has become aware that due to an administration error a sales rebate of $219k (£167k) was not entered into the accounting system. Consequently revenues for the six month period were £5.1m not the £5.3m as reported on 30 March 2020. Pre tax profits were £4.1m as opposed to £4.3m as previously stated. The cash figure and interim dividend remain unchanged.\n The revised results are as stated below.\n Bioventix plc (BVXP) (“Bioventix” or “the Company”), a UK company specialising in the development and commercial supply of high-affinity monoclonal antibodies for applications in clinical diagnostics, announces its unaudited interim results for the six-month period ended 31 December 2019.\n Highlights\n \n Revenue up 17% to £5.1 million (2018: £4.4 million)\n Profit before tax up 26% to £4.1 million (2018: £3.2 million)\n Closing cash balances unchanged at £5.5 million\n First interim dividend up 20% to 36p per share (2018: 30p)\n \n CHAIRMAN AND CHIEF EXECUTIVE’S STATEMENT\n Business review\n We are pleased to announce a strong performance for the unaudited interim results for the six-month period ended 31 December 2019 with revenues for the half-year of £5.1 million (2018: £4.4 million) up 17% on the previous year. \n Total profits before tax for the half-year increased by 26% to £4.1 million (2018: £3.2 million). The cash balances remained very similar, finishing the period unchanged at £5.5 million. \n Vitamin D antibody sales continued at the healthy levels seen during the previous financial year and this contributed towards the growth. Whilst this is very encouraging, we continue to see evidence of a plateau in the downstream global vitamin D assay market. We have previously commented on the impressive performance of two specific customers in the downstream vitamin D test market - Diazyme (San Diego, US) and Boditech (South Korea) – and their sales continued to grow. \n Other revenue streams for the core of established antibodies showed modest growth during the period. Added to this were increased sales of a number of newer antibodies (T4/thyroxine, androstenedione and biotin). \n Sales relating to troponin an...