A listed international molecular diagnostics group has reported soaring revenues during the first quarter of its new financial year – with results for the year to March 31 in line with expectations.
Manchester-based Yourgene Health, which is a Covid testing provider and specialises in non-invasive prenatal testing, said full-year revenues increased by 10% to £18.3m from £16.6m – with pandemic-related revenues and strong European growth offsetting pandemic “headwinds”.
However losses increased to £12.2m – a figure that reflected a goodwill impairment charge arising from pandemic-related challenges in Asian markets, compared with a loss of £2.3m in 2020.
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The firm also provided an update for the first quarter of the new year, with revenues at over £6m – up 80% on last year. The firm said this was driven by Covid-related services and product sales as the UK economy reopened.
A joint statement from Adam Reynolds, chairman, and Lyn Rees, CEO, said: “The last financial year…
