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ClearStar revenues up 11%

By BFN News | 07:57 AM | Wednesday 10 January, 2018

ClearStar expects to report revenue growth of approximately 11% to $17.8m for the year to the end of December, in line with market forecasts. The company said growth was driven by its direct services, which increased in revenue by 21% year-on-year, with sustained upscaling in the direct client base and particular demand from the transportation, on-demand labour and education sectors for background screening services. It said direct sales growth was primarily due to the number of active direct client accounts increasing 18% year-on-year and the number of people screened by ClearStar for direct clients increased 26% year-on-year. A trading update said: 'During the second half of the year, the company maintained the momentum from the first half of 2017, driven primarily by increasing direct sales and demand for its medical information services. 'ClearStar also continued to upscale its direct client base, winning contracts with large, well-established businesses, and made substantial progress with the on-boarding of those customers. 'As a result, the company expects to report revenue growth and reduced loss before tax for full year 2017 in line with market expectations.' Story provided by

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