Horizon Discovery expects 2016 revenue up 20%
January 24, 2017Horizon Discovery Group expects to see 2016 revenues rise for about 20%, as it expects revenue of at least £24.0 million.
The company said it expects the gross margin increasing to the mid-50% range, driven by product sales volumes ahead of expectations and at reduced cost of goods sold.
The Group also said it expects a full year loss after taxation, having taken the necessary measures to reduce the cost base by over £5.0 million in 2017 as part of its strategy.
Dr. Darrin M. Disley, Chief Executive Officer (CEO) of the Group, sees a chance in developing genetically-targeted medicines and cell and gene therapies.
He says Horizon strives to be a leader in gene editing to deliver the picks and shovels that support the new gold rush taking place in healthcare.
“The Group is realising the benefits of this strategy through continued strong revenue growth, having invested for scale through 2016, and having implemented measures to transition to profitability thereafter,” said Disley.
According to the group’s CEO, early revenue indicators for 2017 already look encouraging thanks to a very robust sales order book. “This, combined with having the products and services, global commercial resources and sales channels, and business systems needed to drive long term success all in place, reinforces our confidence in becoming a sustainably profitable company as we continue to deliver strong revenue growth,” he concluded.
