REG - Proteome Sciences - Trading Update

Proteome SciencesAnnouncement

03/02/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220203:nRSC5341Aa&default-theme=true

RNS Number : 5341A  Proteome Sciences PLC  03 February 2022

Prior to publication, the information contained within this announcement was
deemed by the Company to constitute inside information as stipulated under the
UK Market Abuse Regulation. With the publication of this announcement, this
information is now considered to be in the public
domain.

3 February 2022

 

 

Proteome Sciences plc

("Proteome Sciences", the "Company" or "Group")

 

Year End Trading Update

Proteome Sciences today provides an unaudited trading update for the financial
year ended 31 December 2021.

The Company is pleased to report that it has continued to show strong growth
in its services business with TMT® revenues holding firm, despite the
continued impact of the Covid-19 pandemic on international business. The
Company expects to report a c7% increase in Group revenues to c£5.1m (2020:
£4.75m) for the full year, with services expected to increase c32% to c£1.9m
(2020: £1.44m) and sales and royalties attributable to TMT(®) and TMTpro™
reagents to be c£3.2m (2020: £3.27m).

The Company anticipates an estimated trading profit of between £0.6m and
£0.8m (2020: £0.50m) (excluding interest, currency and share based payments
effects) which shows a positive development of the operational business.
 Investment in staff and facilities in line with our renewed strategy will
give rise to a marginal increase in operational costs versus the prior year.
Overall, the Company expects an estimated result before tax close to
break-even (2020: £0.24m profit) and a similar result after tax (2020:
£0.29m profit after tax) for the year.

Cash reserves at the year-end increased to £2.4m (2020: £2.21m).

The Board looks forward to providing shareholders with a full update of the
Company's performance and outlook for 2022 with the publication of the audited
full year results.

Dr. Mariola Soehngen, Chief Executive of Proteome Sciences, commented:

"As the estimated 2021 results show, our services business is growing year on
year and supports our renewed strategy to grow and expand this business. We
have identified further high need new services to add to our offering and
these will be established inhouse and rolled out during 2022. This will enable
further internationalisation and expansion of the business into lucrative
areas. We carry forward a strong order book into 2022. Bolstered by the
continued growth of revenues our business is well set for further growth."

 

 

 

 

For further information please contact:

 Proteome Sciences plc
 Dr. Mariola Soehngen, Chief Executive Officer  Tel: +44 (0)20 7043 2116

 Dr. Ian Pike, Chief Scientific Officer
 Richard Dennis, Chief Commercial Officer

 Allenby Capital Limited (Nominated Adviser & Broker)
 John Depasquale / Jeremy Porter                Tel: +44 (0) 20 3328 5656

About Proteome Sciences plc. (www.proteomics.com (http://www.proteomics.com/)
)

Proteome Sciences plc is a specialist provider of contract proteomics services
to enable drug discovery, development and biomarker identification, and
employs proprietary workflows for the optimum analysis of tissues, cells and
body fluids.  SysQuant® and TMT®MS2 are unbiased methods for identifying
and contextualising new targets and defining mechanisms of biological
activity, while analysis using Super-Depletion and TMTcalibrator™ provides
access to over 8,500 circulating plasma proteins for the discovery of
disease-related biomarkers. Targeted assay development using mass spectrometry
delivers high sensitivity, interference-free biomarker analyses in situations
where standard ELISA assays are not available.

The Company has its headquarters in London, UK, with laboratory facilities in
Frankfurt, Germany.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTUUSRRUSUURUR