StockMarketWire.com - Medical device company Circassia upgraded its outlook on annual core earnings after reporting a rise in first-half revenue as performance was boosted by return of patient visits to physicians.

The company said its full year earnings before interest, taxes, depreciation, and amortisation, or EBITDA, performance is 'likely to be ahead of current market expectations.'

For the six months ended 30 June 2021, revenue was up 27% to about £14.5 million.

Clinical revenues were up 16% to approximately £12.1 million as more patients were able to visit their physician, the company said.

'Whilst Clinical revenues are yet to return fully to pre-COVID levels, sales in the first half of 2021 were approximately 84% of underlying sales in H1 2019,' it added.

The NIOX business posted a positive EBITDA for first time.

Circassia expects to release its interim results for the six months ended 30 June 2021 on 16 September 2021.





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