StockMarketWire.com - Diagnostics group Yourgene Health posted a first-half loss, as rising revenue was more than offset by expenses.

Pre-tax losses for the six months through September amounted to £0.31 million, compared to year-on-year losses of £2.61 million.

Revenue more than doubled to £17.5 million, up from £8.2 million.

Yourgene said expenses were pushed higher by 'growth-focused expenditures on UK Covid-19 testing' and an expansion of US commercial personnel.

It didn't declare an interim dividend.

'The strong performance in this first half is a testament to how we are able to take our core competencies from genomic technologies and genomic services offerings and react to market demands,' chief executive Lyn Rees said.

'The first half has seen this result in very substantial growth in Covid-19 testing where we have quickly mobilised our core lab services and scaled resources to meet this key need, and we have the ability to apply these core skills and capacity to other areas in due course.'

'Whilst growth across non-Covid areas of the business is subdued, we are seeing reassuring signs of a return to growth across a number of our genomic technologies and genomic services portfolios, particularly following growing access for our sales teams in Europe and North America.'

'We remain confident in the recovery of non-Covid-19 revenue streams to underpin longer-term growth prospects.'


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