StockMarketWire.com - Molecular diagnostics group Yourgene Health swung to a full-year profit, as it grew revenue and cut expenses.

Pre-tax profit for the year through March amounted to £3.4m, compared to a loss of £9.5m on-year.

The company said it had posted its first annual profit since its 2014 initial public offering due to a debt restructuring, but also improved trading.

Revenue grew 45% to £8.9m.

'These results demonstrate the strong underlying growth of the business after the transformative realignment of our partnership with Thermo Fisher and formation of a new one with Illumina,' chief executive Lyn Rees said.

'We now have a strong balance sheet following the equity fundraise and Elucigene acquisition, the integration of which is progressing ahead of my expectations.'

'We are now well positioned and very much focused on growth. I look forward to launching a new version of the IONA test, our first oncology product and converting our exciting pipeline of new business opportunities into profitable growth.'


At 8:30am: [LON:YGEN] share price was 0p at 13.13p



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