IXICO results boost shares

AIM-listed bioscience data analytics firm IXICO (LON:IXI) has seen its shares climb by 2.19% to 70p (as of 15:15 GMT) as it posted its first profitable year since joining AIM. Revenues for the 12 months ended 30th September were up by 40% and gross margins were 660 basis points better than during the previous year.

CEO Giulio Cerroni commented: “2019 has been a pivotal year in strengthening IXICO as a trusted technology partner in clinical development. Revenue of £7.6 million built on the growth in 2018, resulting in a 3-year CAGR of 35%. We also achieved our first full year of profitability since admission to AIM. Our strengthened leadership team has allowed us to scale operations and enhanced our strategic planning. With a healthy order book of £15.9 million, new contracts signed since the year end, and a new US-based Chief Business Officer we continue to execute our ambitious growth plans with the aim of delivering another record year“.