Yourgene Health PLC Year-end Trading update: Revenues increase 86% (1106K)
20 Abril 2020 - 1:00AM
UK Regulatory
TIDMYGEN
RNS Number : 1106K
Yourgene Health PLC
20 April 2020
Yourgene Health plc
("Yourgene" or the "Company")
Year-end Trading update: Revenues increase 86%
Manchester, UK - 20 April 2020: Yourgene (AIM: YGEN), a leading
international molecular diagnostics group, announces a trading
update for the year ended 31 March 2020.
Revenues for the year ended 31 March 2020 were GBP16.6m (2019:
GBP8.9m), up 86% compared to the previous year, and does not
include GBP0.4m of orders for March that fell into the new
financial year due to COVID-19 transport restrictions. The revenue
increase reflects organic growth of approximately 36%; 11 months
contribution from Elucigene Diagnostics, acquired on 26 April 2019;
and three weeks' contribution from the Company's French NIPT
distribution business, acquired on 10 March 2020.
Revenues by region
The strong growth across all regional segments shown below
demonstrates the Company's diversified geographic base. Despite the
disruptions caused by the spread of COVID-19, our customers in
Europe are continuing to operate as normal, albeit with some slight
timing delays if and where there are localised staffing or
logistics issues. The integration of the French distribution
business is also progressing to plan.
Our core South East Asian markets have so far been very
successful in containing the virus and avoiding restrictive
practices which might have otherwise inhibited our business there.
Travel disruption has had an impact on our launch in the US, where
we do not have local teams in place yet, and whilst we are
recording our first revenues in this key market, we do expect
further orders to be fulfilled in the new financial year.
Regional segments Year ended Year ended
30 March 2020 30 March 2019
GBPm GBPm
--------------- --------------- ------
UK 2.0 1.2 +67%
Europe 4.1 1.8 +132%
International 10.4 5.9 +77%
Total 16.6 8.9 +86%
=============== =============== ======
Revenues by product
Global sales of non-invasive prenatal testing (NIPT) products
and services grew at 29% and this is whilst UK and Europe customers
wait to transition to our Illumina-based IONA(R) test, for which we
are awaiting regulatory approval during the first quarter of the
new financial year. Preparations for the product launch are well
advanced and will commence as soon as regulatory approval is
obtained and COVID-19 restrictions permit.
During the year to 31 March 2020 we have successfully broadened
our portfolio beyond NIPT with 22% of sales now derived from
reproductive health products and 17% derived from the Company's
rapidly growing Oncology & Research Services activities in
Asia.
Product segments Year ended Year ended
31 March 2020 31 March 2019
GBPm GBPm
--------------- --------------- ------
NIPT 10.1 7.9 +29%
Reproductive Health 3.7 0.0 n/a
Oncology & Research services 2.8 1.0 +177%
--------------- --------------- ------
Total 16.6 8.9 +86%
=============== =============== ======
Whilst the impact of COVID-19 in the final quarter was a major
challenge the Company still delivered a strong end to the year.
Yourgene has in place robust systems to continue to operate
efficiently and to provide customers with world-leading molecular
diagnostic solutions and services. In addition, as announced on 25
March 2020, the Company signed a contract manufacturing agreement
with Novacyt S.A. ("Novacyt") to support the production of COVID-19
diagnostic tests developed by Primerdesign, Novacyt's molecular
diagnostics division. The contribution from this partnership has
started to crystallise in the new financial year with our first
shipments now successfully completed.
Lyn Rees, Chief Executive Officer of Yourgene, commented:
"I am delighted with the performance of our business over the
year, both in terms of the organic growth and through contributions
from acquisitions. Despite the COVID-19 crisis we continue to
execute on our strategy of broadening our product mix and
international reach, and we are proud to be supporting the global
manufacturing efforts for COVID-19 diagnostic tests from our
state-of-the-art facilities in Manchester. The Group remains well
funded to achieve its objectives and we are confident that our
business remains robust going into the new financial year. In our
view the challenging global situation has put into focus more than
ever the need for reliable and accurate diagnostic testing and
Yourgene is well positioned to make a significant
contribution."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Yourgene Health plc Tel: +44 (0)161 669 8122
Lyn Rees, Chief Executive Officer investors@yourgene-health.com
Barry Hextall, Chief Financial Officer
Joanne Cross, Director of Marketing
Cairn Financial Advisers LLP (NOMAD) Tel: +44 (0)20 7213 0880
Liam Murray / James Caithie / Ludovico
Lazzaretti
Stifel Nicolaus Europe Limited (Sole Tel: +44 (0)20 7710 7600
Corporate Broker)
Nicholas Moore / Matthew Blawat / Ben
Maddison
Walbrook PR Ltd (Media and Investor Tel: +44 (0)20 7933 8780 or yourgene@walbrookpr.com
Relations)
Paul McManus / Lianne Cawthorne Mob: 07980 541 893 / Mob: 07584 391
303
About Yourgene Health plc
Yourgene is an international molecular diagnostics group which
develops and commercialises genetic products and services. The
group works in partnership with global leaders in DNA technology to
advance diagnostic science.
Yourgene develops and commercialises simple and accurate
molecular diagnostic solutions, primarily for reproductive health.
The Group's products include non-invasive prenatal tests (NIPT) for
Down's Syndrome and other genetic disorders, Cystic Fibrosis
screening tests, invasive rapid aneuploidy tests, male infertility
tests and genetic disease tests. Yourgene's commercial footprint is
already established in the UK, Europe, the Middle East, Africa and
Asia.
Our product development, research service and commercial
capabilities extend across the lifecycle of genetic test
development including regulatory submissions. Through our technical
expertise and partnerships, Yourgene is also extending its genetic
testing offering into oncology.
Yourgene is headquartered in Manchester, UK with offices in
Taipei and Singapore, and is listed on the London Stock Exchange's
AIM market under the ticker "YGEN". For more information, visit
www.yourgene-health.com and follow us on twitter
@Yourgene_Health.
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END
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