Diaceutics | 1H24 trading update - continued strong performance
Diaceutics has continued its strong performance and growth across the business in 1H24. The company expects to report revenue for the half of c£12.3m, up 24% YoY or up 28% on a constant currency basis. The quality of earnings continues to improve with approximately 55% of all revenue in the period being recurring (1HFY23 47%, FY23 52%). Cash and net cash at 30 June were £16.7m, flat with YEFY23, despite continued investment into the business, in line with the accelerated growth strategy. The results are in line with the Board's expectations and look consistent with our current forecasts. Peter Keeling will become Non-Executive Chair on 1 October 2024, following the resignation of Deborah Davis.
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