IXICO PLC (LON:IXI), the data analytics company focused on neuroscience, has raised earnings expectations for the current fiscal year.
The company is benefiting from continued operational leverage, generated by revenue growth and investments made to drive scale and efficiency, it said in a trading update.
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The board expects revenues for the year to the end of September 2020, to be in line with, or slightly ahead of, current market expectations, representing growth of more than 20% compared to the prior year.
Underlying earnings (EBITDA) are expected to be materially ahead of current market expectations.
The upgrading of earnings expectations further underpins the company's confidence in its ability to invest to deliver further profitable medium and long-term growth.
"We are delighted to see continued momentum in the accessing of revenue driven operational leverage, building on the company's maiden year of profitability in 2019 and strong first half-year results to 31 March 2020,” said Giulio Cerroni, the chief executive officer of IXICO in a statement.
“In the context of the challenging market environment created by Covid-19, this increase in profitable growth, alongside our strong balance sheet and positive operating cash flows, whilst remaining fully committed to our investment plans, is a fantastic achievement,” he added.