IXICO share price surges after strong sales news

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IXICO share price surges after strong sales news
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Data analytics specialist IXICO (LON:IXI) saw its share price increase by 9.57% to 25.75p (as of 13:25 GMT) after it announced that revenues for the year ended 30th September climbed by 32% to £5.4 million. Gross margins also improved by 240 basis points which caused the operating loss for the period to more than halve to £0.8 million.

CEO Giulio Cerroni said: “2018 has been another year of significant progress in which we have delivered on our financial commitments, whilst continuing to invest in the long-term future of the company. We have reported record revenues with underlying growth of 41%, further improved gross profit performance and reduced operating losses. Consequently, operating cash outflows have been significantly reduced in the year to £0.1m. The combination of a strong orderbook and healthy pipeline, in conjunction with senior management hires to execute our strategy, provides a solid foundation for continued growth momentum. With a successful capital placing to invest in new market and product development, we go into the new financial year with increased commercial traction, ambitious growth plans and a strengthened organisation focused on delivering technology-driven data analytics to our global biopharmaceutical clients.

 

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