Novacyt, a Franco-British company specializing in in vitro and molecular diagnostics, reported on Thursday that its 2022 annual results were in line with forecasts.

Group sales for fiscal 2022 came in at £21 million, in line with targets, compared with £92.6 million in 2021.

In its press release, Novacyt explains this downturn by the drop in revenues from its Covid-19-related products, which reached just £14.7 million last year compared with £84 million in 2021.

As a result, its operating loss (Ebitda) is expected to reach around £13.5 million before exceptional items for the year, compared with a profit of £3.1 million in 2021.

The company says it intends to announce its audited annual results in the week of April 24, at which time it will also provide an update on its outlook for 2023.

Meanwhile, Novacyt shares listed on the Paris Bourse fell by over 3% on Thursday morning.

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