IXICO Plc (LON:IXI) has said its performance for the current financial year is now expected to be “ahead of market expectations” after forecasting revenue growth of nearly 25%.
The AIM-listed neuroscience data company said that reported revenue for the full year is expected to be at least £5.1mln, a 24% increase on the previous year, adding that it also expected to report a reduced operating loss for the year.
READ: IXICO signs agreement to expand scope of clinical trial study contract
The group said the revenue increase reflected previously announced contract wins, adding that it remained confident of meeting market expectations for the 2019 financial year as it “continued to invest in its commercially led growth strategy”.
IXICO recently announced that it had secured an agreement to expand the scope of an existing clinical trial study contract with a top 10 pharmaceutical company, increasing the contract’s value to £1.6mln.
Giulio Cerroni, IXICO chief executive, said the company was continuing to benefit from “increased demand for our specialist data analytics”.
The firm also said it would release a pre-close trading statement on October 16.