Yourgene Health PLC Half year trading update (6998P)
October 14 2019 - 2:00AM
UK Regulatory
TIDMYGEN
RNS Number : 6998P
Yourgene Health PLC
14 October 2019
Yourgene Health plc
("Yourgene" or the "Group")
Half year trading update
Manchester, UK - 14 October 2019: Yourgene (AIM: YGEN), a
leading international molecular diagnostics group, provides a
positive trading update for the six months to 30 September
2019.
Revenues for the six months to 30 September 2019 were GBP7.8m,
up 98% on the equivalent prior year period (six months to 30
September 2018: GBP3.9m), and in line with management expectations.
International revenues continue to show very strong momentum, with
the Elucigene Diagnostics business, acquired on 26 April 2019,
contributing primarily to UK and European sales growth.
International revenues include the Group's first US sales as
reported in our AGM statement. Organic growth, excluding
contributions from the Elucigene acquisition, was 56%.
Regional segments 6 months 6 months
to 30 Sept to 30 Sept
2019 2018
GBPm GBPm
------------------- ------------ ------------ ------
UK 1.1 0.8 +35%
------------ ------------ ------
Europe ex-UK 1.6 0.8 +90%
------------ ------------ ------
International 5.1 2.3 +122%
------------ ------------ ------
Total 7.8 3.9 +98%
------------ ------------ ------
Revenues from non-invasive prenatal testing (NIPT) products and
services grew globally at 34% despite the UK and Europe being in a
period of transition to a product format which is compatible with
Illumina's next-generation sequencing technology. This new product
will be rolled out in European markets during 2020.
Revenues are showing greater diversity with 20% derived from
reproductive health products generated by the acquired Elucigene
Diagnostics, and 17% derived from the Group's rapidly growing
oncology and research services activities in Asia.
Product segments 6 months 6 months
to 30 Sept to 30 Sept
2019 2018
GBPm GBPm
--------------------- ------------ ------------ ------
NIPT 4.8 3.6 +34%
------------ ------------ ------
Reproductive Health 1.6 0.0 n/a
------------ ------------ ------
Oncology & research 1.4 0.3 +290%
------------ ------------ ------
Total 7.8 3.9 +98%
------------ ------------ ------
Cash and cash equivalents as at 30 September 2019 were
GBP4.1m.
Lyn Rees, Chief Executive Officer of Yourgene, commented:
"I am delighted with the performance in the first half, both in
terms of the organic growth delivered but also the contribution
from the Elucigene acquisition and the launch of our American
business. We are executing on our strategy to broaden our product
portfolio and to drive growth across wider international markets.
We remain on track to hit our ambitious growth targets for the
enlarged Group and to meet market expectations for the full
year."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Yourgene Health plc Tel: +44 (0)161 667 1053
Lyn Rees, Chief Executive Officer investors@yourgene-health.com
Barry Hextall, Chief Financial Officer
Joanne Cross, Director of Marketing
Cairn Financial Advisers LLP (NOMAD) Tel: +44 (0)20 7213 0880
Liam Murray / James Caithie / Ludovico
Lazzaretti
Stifel Nicolaus Europe Limited (Sole Tel: +44 (0)20 7710 7600
Corporate Broker)
Nicholas Moore / Matthew Blawat / Ben
Maddison
Walbrook PR Ltd (Media and Investor Tel: +44 (0)20 7933 8780 or yourgene@walbrookpr.com
Relations) Mob: 07980 541 893 / 07584 391 303
Paul McManus / Lianne Cawthorne / 07876 741 001
/ Anna Dunphy
About Yourgene Health
Yourgene Health is an international molecular diagnostics group
which develops and commercialises genetic products and services.
The group works in partnership with global leaders in DNA
technology to advance diagnostic science.
Yourgene develops and commercialises simple and accurate
molecular diagnostic solutions, primarily for reproductive health.
The Group's products include non-invasive prenatal tests (NIPT) for
Down's Syndrome and other genetic disorders, Cystic Fibrosis
screening tests, invasive rapid aneuploidy tests, male infertility
tests and genetic disease tests. Yourgene's commercial footprint is
already established in the UK, Europe, the Middle East, Africa and
Asia.
Our product development, research service and commercial
capabilities extend across the lifecycle of genetic test
development including regulatory submissions. Through our technical
expertise and partnerships, Yourgene Health is also extending its
genetic testing offering into oncology.
Yourgene Health is headquartered in Manchester, UK with offices
in Taipei and Singapore, and is listed on the London Stock
Exchange's AIM market under the ticker "YGEN". For more
information, visit www.yourgene-health.com and follow us on twitter
@Yourgene_Health.
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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