Instem PLC (LON:INS) reported sales grew 45% in its latest half-year due to a combination of organic growth and first contributions from recent acquisitions The Edge and d-wise.
The life sciences-focused IT group The Edge chipped for four months and d-wise for three, with like-for-like revenue growth around 8% or 15% on a constant currency basis.
Operational cash generation remained strong said the statement, with a closing cash balance at 30 June 2021 of £17.9mln.
The Edge and d-wise have transformed the scale of the business, Instem added, and broadened the company's offering across the drug discovery and development lifecycle while organically the business grew across all its divisions.
Phil Reason, chief executive, added: "The Instem team has once again performed exceptionally well, almost entirely working from home offices and continuing to successfully deal with the ongoing challenges of Covid-19 while making a positive contribution to vaccine and therapy development.
"We are pleased with the progress made on the initial integration of d-wise and The Edge, and believe the enlarged group continues to be well placed to grow recurring revenue and focus on further enhancements to margins and cash generation.
“We have a proven model, increased scale and buoyant market conditions, and look to the future with confidence."