Proteome Sciences today releases its unaudited interim results for the six months ended 30th June 2016.
Financial highlights
- Revenues to 30th June increased 32% to £1.12m (2015: £0.85m)
- Licences/sales/services revenues increased 44% to £1.08m (2015: £0.75m)
- TMT® reagent sales increased 27%
- Administrative expenses increased to £2.27m (2015: £2.07m) to fund new equipment and recruitment
- Loss after tax £1.49m (2015: £1.44m)
Commenting on these results, Jeremy Haigh, Chief Executive Officer of Proteome Sciences, said:
“We are pleased to report that performance during the first six months of 2016 has been in line with expectations, and it is encouraging that revenues remain well ahead of the equivalent period in 2015 despite some delays to significant service contracts which are now scheduled to generate income later in the year. Managing the progress and delivery of a limited number of these core projects remains fundamental to the performance of our business. Our exclusive license to provide isobaric tagging reagents (TMT®) to Thermo Scientific is increasingly profitable and sales growth is projected for the foreseeable future.
The widespread adoption of proteomics as a critical enabling technology for the discovery and development of targeted therapeutics continues to gather pace, and with it the opportunity for new entrants to this market which will require us to be more competitive with our service offering, more efficient in the use of our resources, and potentially more radical as we re-evaluate the core elements of our business.
This is the first set of results since my appointment as CEO and I would like to thank all the staff at Proteome Sciences, our customers and collaborators, for their support over the last three months”.
To learn more visit the article published by GenomeWeb, "Proteome Sciences Narrows Business Focus Under New Leadership"