Venn Life Sciences - H1 results: Solid revenues; building on its operational capability

Davy Research
/Read Important Disclosures

Venn’s interim result reflects a business in the growth phase of its development. Infrastructure and systems initiatives are being implemented to improve profitability. The management team was further strengthened with the appointment of a new COO. H1 revenues and EBITDA were adversely affected by the deferral of a late phase project to Q1 2018, which needs to be reflected in our full-year forecasts. With significant scope to increase margins in a growing sub-segment of the healthcare market, we remain confident on Venn’s long-term prospects.