(NewsDirect)
hVIVO PLC (AIM:HVO) chief executive MoKhan speaks to Thomas Warner from Proactive after the specialistcontract research organisation released a trading update for firsthalf of 2023 - a period he describes as a "very strong sixmonths." Khan gives his highlights from the update, highlighting a52% year-on-year increase in revenues to £27.3mln.
He attributes the growth to improvedoperational efficiencies and the increasing frequency of largeconcurrent trials. The company reports cash reserves of £31.3million, even after paying out a special dividend of £3 million, withan order book of £78 million. Addressing a technical detail, Khanmentioned that the company would now report revenue exclusive of otherincome to align with industry practice. Despite delays at theMedicines and Healthcare Products Regulatory Agency impacting some UKclinical trials, Khan says that hVIVO has successfully managed thesituation through its risk mitigation strategy.
For the next six months, hVIVO plans tomaintain its growth momentum, with full-year guidance of £53 millionin revenue and an ever-expanding order book.
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