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Diagnostic commercialisation company Diaceutics warned that revenue may be 'materially lower' than the prior year's, following a substantial reduction in sales in the second half of the year amid lower-than-expected conversion of proposals.
In the third quarter, from mid-August, the company said it saw a lower than expected conversion of proposals, owing to 'some deferrals of spend on client brands and delays of certain new product launches due to COVID-19.'
The warning on guidance came as the company swung to a first-half profit as revenue increased by more than a fifth.
For the six months ended 30 June 2020, the company reported pre-tax profit of £0.03m compared with a loss of £2m on-year as revenue rose 21% to £5.3m.
'In the first half of the year we have grown our client base, revenue and global reach ... but 'all aspects of the healthcare business have been impacted in unprecedented ways by COVID-19 and we first saw this in our EU and Asian implementation projects,' the company said. At 10:01am: (LON:DXRX) share price was -33.5p at 141.5p