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Instem PLC

Instem PLC looking for new acquisitions after strong 2015, says CFO

Nigel Goldsmith, chief financial officer of Instem Plc (LON:INS) tells Proactive the firm had an “exceptionally good year in 2015”, which has given it a “very strong platform” for this year.

The company, which develops software used in clinical trials, recorded significant year-on-year growth in 2015 as its main markets continue to expand. Revenues increased by 22% in the 12 months to December 31 to £16.3mln, £10mln of which were recurring.

Instem also increased its cash reserves, and Goldsmith says this, combined with a £5mln fundraise, will allow the company to look at “new acquisitions” in a “fragmented sector” with “lots of opportunities”.

Quick facts: Instem PLC

Price: £3.70

Market: AIM
Market Cap: £60.3 m
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Instem Plc 'very positive about 2017 clinical opportunites'

Instem Plc (LON:INS) said the performance of its clinical arm had further deteriorated since it last updated and will fall “materially short” of its financial targets. The remainder of the business, which provides analytical software to drug developers, has seen “increased...

on 11/23/2016

2 min read