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Instem says revenues grew by 20% in the first half

Trading was in line with forecasts, investors were told, with the momentum continuing into the early part of the second half

Instem PLC -

Instem PLC (LON:INS) said its first-half trading was in line with forecasts with momentum continuing into the second six months of the year.

The software group, which has developed and sells packages used to record R&D data, said revenues for the six months ended June 30, 2020, were up 20%, or 12% on a like-for-like basis.

WATCH: Instem PLC has 'significant capital' to accelerate acquisition strategy after strong first half

Cash generation was strong, leaving Instem with £9.1mln, which when added to the £15.75mln raised earlier this month leaves it with “significant capital” to accelerate its acquisition strategy.

It said it has a number of “potential compelling opportunities” for bolt-on deals, with “more substantial targets” have also been identified.

Instem said the business continued to trade in line with expectations.

It told investors: “The board is confident that the company is well-positioned to take advantage of opportunities that arise throughout the remainder of the year and beyond in existing and adjacent markets.

“With a scalable platform in place and broad portfolio of products and services, the aim is to further grow market share, margins and revenue visibility.”

Quick facts: Instem PLC

Price: 515 GBX

AIM:INS
Market: AIM
Market Cap: £105.48 m
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Instem PLC has 'significant capital' to accelerate acquisition strategy...

Instem PLC's (LON:INS) Phil Reason tells Proactive London's Andrew Scott he's pleased with its first-half trading. He says the number's were in line with forecasts and momentum has continued into the second half. Revenues for the six months ended June 30, 2020, were up 20%, or 12% on a...

on 22/7/20

2 min read