Horizon Discovery Group plc Announces Unaudited Interim Consolidated Earnings Results for the Six Months Ended June 30, 2018; Provides Earnings Guidance for the Second Half of 2018
September 17, 2018 at 02:00 am EDT
Horizon Discovery Group plc announced unaudited interim consolidated earnings results for the six months ended June 30, 2018. For the period, the company reported revenue of £25,112,000 compared to £12,101,000 a year ago, due to a robust contribution from the Dharmacon business. Operating loss was £7,826,000 compared to £8,232,000 a year ago. Loss before tax was £7,768,000 compared to £8,489,000 a year ago. Loss for the period was £7,619,000 compared to £8,215,000 a year ago. Loss of 5.1 pence per basic and diluted share compared to 8.6 pence per basic and diluted share a year ago. Net cash used in operating activities was £2,243,000 compared to £3,629,000 a year ago. Purchases of property, plant and equipment was £718,000 compared to £1,360,000 a year ago. Purchase of intangible assets was £512,000 compared to £551,000 a year ago.
For the second half of 2018 the company expects revenues to be second half weighted consistent with previous years. Negative EBITDA before exceptional items for first half of 2018 expected to be offset by positive EBITDA for second half of 2018.