Yourgene revenues beat estimates on solid international performance

Molecular diagnostics group Yourgene saw annual revenues exceed market expectations in its 2018 trading year, driven by a strong performance from its international arm.

Yourgene expects to report a 46% revenue increase to £8.9m for the year ended 31 March, with international revenues rising a solid 51% to £5.9m thanks to the group's "continued penetration" of Middle Eastern and Asian markets, as well as increased prenatal testing and oncology research services at its Taipei facility.

Back at home, the Manchester-based firm told investors on Monday that revenue had risen 20% to £1.2m, while revenues on the continent were up 47% to £1.8m.

The AIM-listed outfit also saw cash balances skyrocket more than 400% to £1.3m.

Chairman Adam Reynolds said: "Yourgene's business has been transformed over the past financial year and I am delighted to see this being reflected in the group's trading performance.

"Our strengthened leadership team is now fully focused on driving the business into its next phase of growth."

As of 1120 BST, Yourgene shares had dipped 1.23% to 12.84p.