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ClearStar’s order book at “highest ever”

Full-year sales will rise 14% to US$23mln driven by stronger than expected growth in the medical information services division

ClearStar Inc - ClearStar Inc’s order book at “highest ever”

ClearStar Inc (LON:CLSU) said its order book is at the “highest ever” level, with a “healthy” pipeline for further orders next year.

The AIM-listed company, which specialises in background and medical screening, said 2019 group sales will rise 14% year-on-year to US$23mln, in line with market expectations, driven by stronger than expected growth in the medical information services (MIS) division.

READ: ClearStar sees medical screening and direct sales shine in first half

However, the financial institutional screening division will post lower revenue than previously estimated due to a delay by a customer, which has re-scheduled the projects for 2020.

The company also invested in cloud data management, security compliance and sales team infrastructure to support future growth which, alongside lower sales in the financial institutional screening division, will hit adjusted underlying earnings, which will come in at US$300,000.

“[We] see the potential for ClearStar to continue to grow and upsell in MIS while expanding into new verticals like financial institutions,” analysts at finnCap said in a note.

Quick facts: ClearStar Inc

Price: 56.5 GBX

AIM:CLSU
Market: AIM
Market Cap: £20.55 m
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