Venn Life Sciences Holdings PLC Year End Update (1152T)
24 March 2016 - 6:00PM
UK Regulatory
TIDMVENN
RNS Number : 1152T
Venn Life Sciences Holdings PLC
24 March 2016
Venn Life Sciences Holdings Plc
("Venn" or the "Company")
Year End Update
Venn Life Sciences (AIM: VENN), a growing Contract Research
Organisation (CRO) providing drug development, clinical trial
management and resourcing solutions to pharmaceutical,
biotechnology and medical device clients, announces that further to
the trading update provided on 8 January 2016 the Company now
expects revenues for full year to 31 December 2015 to be
significantly more than double the previous year (2014: EUR4.9m)
and to exceed market expectations by at least 15%.
As previously stated, the business is now generating free
cashflows and ended the financial year with a cash position of
EUR3.4m. In-line with market expectations the Company will report a
positive EBITDA position having recorded a Group EBITDA loss,
before exceptionals of EUR1.53m for the previous year.
Commenting, Venn CEO, Tony Richardson said: "I am delighted that
the business has shown such a strong performance in 2015 and we
have done this by building upon our reputation for delivering
excellence to our clients and the expansion of our geographical
reach and service capabilities which have enabled Venn to secure
larger enterprise level contracts. This trading performance has
continued into 2016 as demonstrated by the recently announced
contracts worth EUR3.4m with a leading US Biotech client."
The Company expects to announce preliminary results for the year
ended 31 December 2015 on 10 May 2016.
Enquiries:
Venn Life Sciences Holdings www.vennlifesciences.com
Plc
Tony Richardson, Chief Executive Tel: +353 154 99 341
Officer
Jonathan Hartshorn, Chief Financial Tel: +353 153 93 269
Officer
Orla McGuinness, Marketing Tel: +353 153 93 269
Manager
Davy (Nominated Adviser, ESM Tel: +353 1 679 6363
Adviser and Joint Broker)
Fergal Meegan / Matthew DeVere
White (Corporate Finance)
Paul Burke (Corporate Broking)
Hybridan LLP (Joint-Broker)
Claire Louise Noyce Tel: 020 3764 2341
Walbrook PR Ltd Tel: 020 7933 8787 or venn@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Cawthorne Mob: 07584 391 303
About Venn Life Sciences Limited: Venn Life Sciences is a
Contract Research Organisation providing drug development, clinical
trial management and resourcing solutions to pharmaceutical,
biotechnology and medical device organisations. With dedicated
operations in France, Germany, the Netherlands, the UK, Ireland and
Europe wide representation - Venn Life Sciences specialises in
rapid deployment and management of multisite projects, across all
phases. Venn Life Sciences also has an innovation division -
Innovenn - focused primarily on breakthrough development
opportunities in Skin Science.
For more information about the Company, please visit:
www.vennlifesciences.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCSEMFWDFMSEID
(END) Dow Jones Newswires
March 24, 2016 03:00 ET (07:00 GMT)
Hvivo (LSE:HVO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Hvivo (LSE:HVO)
Historical Stock Chart
From Jul 2023 to Jul 2024