Hvivo had net cash of £31.3 million on June 30th, almost double what it recorded on its books a year earlier. The group said it is debt free, has a robust net working capital, and has structured its contracts to be cash flow positive.
The company — which was formed when the group’s chairman Cathal Friel reversed his pharma services business of the same name into Dublin-listed drug clinical trials manager Venn Life Sciences — said the outlook for the business “remains extremely positive”. The board has increased its revenue guidance to £55 million for 2023 as well as increasing its EBITDA margin guidance to about 19 per cent for 2023.
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Source: IrishTimes - 🏆 3. / 98 Read more »