- Cyclopharm (CYC) is expecting to report a record half-year revenue result of $8.1 million, exceeding the company’s pre-COVID financial performance
- This result is an increase of 45 per cent compared to this time last year
- Cyclopharm has confirmed its intentions to pay a per-share dividend of 0.5 cents to eligible shareholders
- On the market this morning, company shares are up 4.85 per cent and are trading at $1.73 per share
Cyclopharm (CYC) is expecting to report a record half-year revenue result of $8.1 million, exceeding the company’s pre-COVID financial performance.
The radiopharmaceutical company says this unaudited result is an increase of 45 per cent compared to the first half of 2020.
The strong revenue growth has been across all product and service lines, with its Technegas generator revenue expected to be almost double the first half of 2020.
Cyclopharm has confirmed its intentions to pay a dividend of 0.5 cents per to eligible shareholders, which is consistent with its dividend policy.
“Cyclopharm’s strong revenue growth across all our product and service lines in our established markets is driving the business to significantly outperform the
results in the first halves of 2020 and 2019,” Managing Director James McBrayer said.
“It is encouraging to see the growth strategies we are executing in our established markets are driving improved returns with overall growth well ahead of
pre COVID-19 levels.
“Given our momentum we are very confident of continued robust growth in PAS revenue in the coming periods. The Generator sales we made this year will lead to ongoing repeat PAS orders through the life of these assets.”
At the end of June, Cyclopharm had $30 million in cash reserves.
On the market this morning, company shares are up 4.85 per cent and is trading at $1.73 per share at 11:41 am AEST.