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ClearStar reports narrower losses on 'strong' demand for medical information

By BFN News | 09:54 AM | Monday 13 May, 2019


ClearStar reported a narrower annual loss as 'strong demand' for medical information underpinned growth. For the year ended 31 December 2018, pre-tax loss narrowed to $1.4m from $1.9m a year earlier as revenue increased by 13% to $20.1m. The narrower loss was driven by growth across both direct and indirect services amid 'strong demand' for medical information, the company said. The revenue momentum of 2018 had been sustained into the first quarter of 2019 with the onboarding and ramp-up of previously-won contract, the company added. This had resulted in the company achieving its highest ever first quarter revenue at $5.1m for first quarter of 2019, a year-on-year increase of 11%. 'This is serving to strengthen the Company's pipeline, particularly in the direct channel and for MIS, which ClearStar expects to continue to be the main drivers of growth, the company said. �'As a result, the Company continues to expect to achieve strong growth for full year 2019, in line with market expectations, and the Board looks to the future with confidence,' it added. At 9:54am: (LON:CLSU) Clearstar Inc. share price was +2p at 60p Story provided by StockMarketWire.com

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