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Proteome Sciences profit to fall on flat revenue, higher costs
StockMarketWire.com
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Biomarker discovery group Proteome Sciences said it expected to report a modest fall in annual profit as costs rose.
Pre-tax profit for the year through December was expected to decrease to £0.03 million, down from £0.2 million year-on-year.
Revenue had remained unchanged at £4.6 million and operating costs had climbed 2% to £4.4 million, reflecting an increase in business activities for both business units, particularly proteomics services.
'The company made good progress in 2020 and we were able to deliver results in line with the indications outlined in our first-half report,' cheif executive Mariola Soehngen said.
'The improved cash position at the end of 2020 provides a good platform for the new year and the substantial order book value we are carrying forward puts our service business in a strong position for 2021.'
'We expect that the traction we are seeing on key partnerships developed in 2020 will continue.'
At 8:45am: (LON:PRM) Proteome Sciences PLC share price was 0p at 3.8p
Story provided by StockMarketWire.com
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