IXICO says full year will be ahead of market expectations

Data science company IXICO said on Tuesday that trading for the year to 30 September is now expected to be ahead of market expectations.

The AIM-listed group expects to report revenue for the full year of at least £5.1m, which would be a 24% increase compared to the prior year, thanks to contract wins. In turn, this should translate into a reduced operating loss for the year.

In a brief trading update, IXICO said it remains confident of meeting market expectations for the financial year ending 30 September 2019 as it continues to invest in its "commercially-led growth strategy on the path to profitability".

Chief executive officer Giulio Cerroni said: "We continue to benefit from increased demand for our specialist data analytics services from the global biopharmaceutical industry. This strong trading performance highlights ongoing progress in our mission to better serve our clients and the dedication of our staff to deliver valuable insights in neuroscience."

At 1240 BST, the shares were up 3.2% to 33.01p.