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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: 480 GBX

Market: AIM
Market Cap: £79.79 m

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on 11/23/2016

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