Novacyt grows sales but reports lower margins and reduced cash reserves
Novacyt ($NCYT) reported first-half revenue growth of 18% to £11.6 million, with approximately 9% underlying growth excluding acquired Southern Cross Diagnostics. Instrumentation sales increased about 30%, while clinical products grew more than 20%. Gross margin nevertheless declined to 56% from 66%, reflecting acquisition-related mix, inventory accounting adjustments and lower Primer Design sales. The EBITDA loss before exceptional items narrowed to £3.9 million from £4.1 million as operating c
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