Lifeline Scientific confirms it will beat full year views
Updated : 11:31
Transplantation technology company Lifeline Scientific confirmed that pre-tax profit for the full year is expected to be materially ahead of market expectations.
The company had already made the announcement on 18 December, but confirmed it on Tuesday, as it said revenue is likely to rise 13.7% from 2014 to $39.4m (£27.5m).
Operating profit, meanwhile, will more than double to at least $5.6m, the company said.
In a trading update for the year to 31 December 2015, Lifeline said it saw strong trading in the second half of the year as market adoption of the company’s lead products grew, driven by positive clinical evidence
It saw significant growth across its North American, Asian and South American regional markets, particularly for its flagship LifePort Kidney Transporters and related portfolio of products.
Chief executive officer David Kravitz said: “Our market leading LifePort Kidney Transporter has become the clinical standard of care for machine preservation of donor kidneys and continues to make important contributions toward improving outcomes in renal transplantation worldwide.
“As LifePort's clinical success expands, we expect continued solid demand for our products and services in 2016.”
At 1108 GMT, Lifeline shares were up 7.2% to 199.38p.