Novacyt reassures…to a degree
The clinical diagnostics specialist has finally announced its full year results. While these offered a degree of clarity on the dispute with the DHSC, investors should be more focused on the future potential. Here are some 'back of the envelope' thoughts on the current valuation.
AIM’s top performer in 2020, clinical diagnostics specialist Novacyt (LON:NCYT), issued the much anticipated (and long-awaited) results for the year ending 31 December 2020. The shares have been very weak following news of the company’s dispute with the UK’s Department of Health and Social Care (‘DHSC’) so followers were looking for some clarity. We covered the dispute in our earlier update here. The key numbers for the year ending December 2020 were truly fabulous with revenue up over 2000% to £277m, post tax profit of £132m (compared with the prior year’s loss) and a free cash inflow of £100m, lifting year…