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Clearstar to hit forecasts as sales momentum builds

The number of people screened by ClearStar for direct clients rose by 26% year-on-year
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Clearstar ran background checks on 26% more people in 2017

Background check specialist ClearStar Inc (LON:CLSU) will hit market forecasts this year as revenues continued to rise in the second half.

Strong demand for job and employee screening from transport firms, contractors and in education lifted direct services revenue by 21% year-on-year, while the number of active clients here rose by 18%.

READ: ClearStar creates sales and business development role to meet higher demand

The number of people screened by ClearStar for direct clients rose by 26% year-on-year.

Revenues in 2017 will grow by approximately 11% year-on-year to US$17.8mln (US$16mln), with a reduced full year loss before tax.

Medical information services sales rose by 20% year-on-year and accounted for 38% of revenues, while global services revenue rose by 90% year-on-year.

READ: ClearStar tools now available through the SAP App Center

Clearstar added it had made good progress implementing its contract with IntelliCentrics, which has 10,000 distinct installations across the US, Canada and the UK. 

The company ended the year with approximately US$1mln of net cash.

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