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Ixico PLC - London-based neuroscience data analytics company - Expects revenue in year ended September 30 to be £8.6 million, down from £9.2 million the year before. Says year-on-year revenue fall reflects the "impact of the early cessation of client trials during the year". Order book amounts to £16.0 million at year-end, down from £18.8 million in prior year. "This reflects the signing of £12.6 million of new contracts during the year, offset by the delivery of £8.6 million revenue and £6.8 million contract value reductions due to the early client trial cessations and minor foreign exchange differences", Ixico notes.
Says revenue guidance for financial 2023 remains unchanged. In May, Ixico reported a fall in pretax profit to £201,000 in the half-year ended March 31, from £635,000 a year ago due to the impact of cancelled client trials. Revenue dropped to £3.9 million from £4.9 million.
Chief Executive Officer Giulio Cerroni says: "The company has delivered a strong close to the year as new contracts signed in the early months of 2022 initiate. The investments and adoption of our technology platform in new clinical trials enable us to continue to build our position as a trusted partner of choice to the global biopharmaceutical industry."
Current stock price: 30.06 pence, down 4.6% on Tuesday afternoon in London
12-month change: down 58%
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