SourceBio International on a roll with COVID-19 testing opportunity

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  • SourceBio expects PCR surge to slow after ‘traffic light’ changes
  • Source BioScience mark ‘eight fold in revenue for company’ with ‘Covid-19 business the engine’
covid test

Quick facts: SourceBio International PLC

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SourceBio is a leading international provider of integrated state-of-the-art laboratory services and products clients in the healthcare, clinical, life science research and biopharma industries, with a focus on improving patient diagnosis, management and care.

20 Sep 2021

() said the planned changes to England’s international travel rules and COVID-19 testing requirements are likely to have an impact on expected revenues this year.

Full-year revenues and adjusted EBITDA are still expected to show dramatic growth compared to the previous year, however, the changes to travel PCR testing are expected to impact on the level of this expected material growth, it said in a statement.

A full trading update as part of its interim results statement is scheduled to be released on 28 September 2021.

The company had already flagged business had soared in the first half with revenues more than tripled at GBP37mln and out of which Covid testing accounted for 75%.

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27 Jul 2021

() said “significant growth” is anticipated for its second half after revenues and earnings soared in the first six months of the year.

In a trading update for the six months to June 30, the laboratory services provider reported that adjusted earnings (EBITDA) had jumped to GBP11.2mln from GBP1.7mln a year ago, while revenues surged to GBP37.3mln from GBP10.6mln in 2020.

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14 Jun 2021

() said it has continued to trade well since 31 December 2020 with revenues, earnings and cash generation in the year-to-date significantly ahead of the equivalent period last year.

The group remains focused on expanding its offerings, technologies and routes to market in the Coronavirus (COVID-19) testing realm.

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15 Apr 2021

‘s () Jay LeCoque talks to Proactive London’s Katie Pilbeam about their 2020 results.

The company reporting strong revenue and profit growth throughout the year driven by its (Coronavirus) COVID-19 antigen testing services and its Infectious Disease Testing business unit, set up last May.

Going forward Jay says ‘the Covid-19 business was the engine for the company this past year’ and he does not thinking the market for testing is going to go away ‘that quickly’. He says airport and sport facility testing is going to be crucial through to 2024.

15 Feb 2021

SourceBio International (SBI) has made a huge impact on its return to public markets. It reported a 139% rise in fiscal 2020 (FY20) reported revenues to GBP50.7mln from GBP21.2mln and underlying earnings (EBITDA) of GBP14mln, vs GBP3mln in FY19. Growth was driven largely on its rapid mobilisation of resources to create a new fourth division, infectious disease testing services.

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