No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Antibody discovery specialist Fusion Antibodies said on Thursday that it was both "on track and on plan" following "positive momentum" throughout Q1.
Fusion Antibodies said unaudited revenues hit roughly £522,000 in Q1, more than doubling last year's £241,000 performance, driven by a "consistent and strong" sales pipeline.
The AIM-listed group noted that its order book sat at £700,000 as of 30 June, including a number of multi-stage projects, of which revenue for all was expected to be recognised in the current financial year.
Fusion believes that its commercial and diversification strategies, as well as a generally improving economic climate and client sentiment, provide continuing confidence for growth throughout the remainder of FY25.
Chief executive Adrian Kinkaid said: "We are on track and on plan. It is particularly encouraging to see the continuing improvement in revenue recognition rates which are supported by further new orders and work in progress. This validates our strategy and puts us on track to meet our plans to ensure that Fusion is not only sustainable but becomes the thriving business which it deserves to be."
As of 1330 BST, Fusion Antibodies shares were up 10% at 3.30p.
Reporting by Iain Gilbert at Sharecast.com
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.
