Half Yearly Report
29 September 2015
("Instem" or the "Group")
Half Yearly Report
Instem plc (AIM: INS.L), a leading provider of IT solutions to the global early development healthcare market, announces its unaudited interim results for the six months ended 30 June 2015.
- Revenues increased 31% to £7.5m (H1 2014: £5.7m)
- Recurring revenues increased 19% to £5.0m representing 67% of total revenues (H1 2014: £4.2m representing 74% of total revenues)
- EBITDA increased to £0.9m (H1 2014: £0.1m)
- Adjusted* earnings per share of 5.14p (H1 2014: 1.20p loss)
- Basic earnings per share of 1.63p (H1 2014: 4.74p loss)
- Seasonal net operating cash outflow of £1.0m (H1 2014: £1.6m)
- Net cash balance as at 30 June 2015 of £0.1m (H1 2014: (£0.2m))
*After adjusting for the effect of foreign currency exchange on the revaluation of inter-Group balances included in finance income/(costs), non-recurring items and amortisation of intangibles on acquisitions.
- Demand intensified in both the pre-clinical and clinical sectors
- Strong ALPHADAS order intake and market share gains
- SEND products and services poised for significant growth post definitive guidance from the FDA
- Significant strengthening of the market facing team and project delivery capabilities both on and off-shore
Phil Reason, CEO of Instem plc, commented:
“Performance in the first half of 2015, from both a revenue and profit perspective, has continued the strengthening trends seen in the second half of 2014.
“Research and development pipelines in the pharma industry continue to grow, particularly in the earlier phases of development in which Instem specialises.
“With a solid backlog of existing orders, high levels of customer retention and a growing prospect pipeline, trading is expected to be in line with management expectations for the full year 2015 and we have confidence in the opportunities for 2016.”
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For further information, please contact:
|Phil Reason, CEO||+44 (0) 1785 825600|
|Nigel Goldsmith, CFO|
|N+1 Singer (Nominated Adviser & Broker)||+44 (0) 20 7496 3000|
|Wallbrook Financial PR||Tel: +44 (0) 20 7933 8000|
|Paul Cornelius||or email@example.com|
Instem is a leading supplier of IT applications to the early development healthcare market delivering compelling solutions for data collection, management and analysis across the R&D continuum. Instem applications are in use by customers worldwide, meeting the rapidlyexpanding needs of life science and healthcare organisations for data-driven decision making leading to safer, more effective products.
Instem’s portfolio of software solutions increases client productivity by automating study-related processes while offering the unique ability to generate new knowledge through the extraction and harmonization of actionable scientific information.
Instem supports over 450 clients through full service offices in the United States, United Kingdom and China with additional locations in Japan and India.
To learn more about Instem solutions and its mission, please visit instem.com.