Horizon Discovery Group plc Reports Audited Consolidated Preliminary Earnings Results for the Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017
Horizon Discovery Group plc reported audited consolidated preliminary earnings results for the year ended December 31, 2016. For the period, the company reported revenue was £24,074,000 against £20,156,000 a year ago. Operating loss was £12,363,000 against £10,288,000 a year ago. Loss before tax was £12,456,000 against £10,544,000, a year ago. Loss for the year was £11,433,000 against £9,883,000, year ago. Basic and diluted loss per share was 12.1 pence against 11.2 pence, a year ago. Net cash outflow from operating activities was £7,775,000 against £10,953,000 a year ago. Purchases of property, plant and equipment was £5,726,000 against £2,689,000 a year ago. Purchase of intangible assets was £2,733,000 against £1,212,000 a year ago. EBITDA loss from Products and Services before exceptional items improved to £3.8 million against £4.6 million a year ago.
For the year 2017, the company expects revenue growth, guided at £30-£35 million for 2017, and with realizing significant operational efficiencies through reorganizing the business to reach positive EBITDA on trading business this year, 2017.