Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. France
  4. Euronext Paris
  5. Novacyt
  6. News
  7. Summary
    ALNOV   FR0010397232

NOVACYT

(ALNOV)
  Report
Real-time Quote. Real-time Euronext Paris - 10/19 11:35:11 am
3.03 EUR   +1.00%
10/16NOVACYT : 2021 agm
PU
10/01NOVACYT : Convening notice for 18th October 2021
PU
09/30NOVACYT : Launches Two New PCR Tests for COVID-19, Other Winter Viruses
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Novacyt to Revise Down 1st Half Revenue Due to UK Covid-19 Contract Dispute -- Update

09/16/2021 | 03:35am EDT

By Sabela Ojea

Novacyt SA said Thursday that its revenue for the first half of the year will be lower than originally announced as a result of its dispute with the U.K. Department of Health and Social Care over a supply contract, and that it will also book higher costs.

The clinical-diagnostics specialist, which is listed in France and the U.K., said in April that the parties hadn't reached an agreement to extend a contract for the supply of Covid-19 diagnostic kits and other products.

On Aug. 18, the company reported first-half revenue of 94.7 million pounds ($131.1 million).

But Novacyt said Thursday that it won't recognize revenue of almost GBP40.8 million pounds booked in the first half in relation to the contract.

The remaining first-half revenue of GBP54.0 million from non-DHSC sales remains unchanged, Novacyt said.

The company is also booking an exceptional one-off cost of GBP28.9 million, to write down inventory that it had built in anticipation of further DHSC demand and to terminate agreements with third parties regarding supply that is no longer required.

The company is also recognizing manufacturing costs of GBP6.9 million related to these disputed sales, it added.

The accounting treatment of the DHSC revenue and costs in the first half doesn't change the company's legal position or rights in relation to the dispute, Novacyt noted.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

09-16-21 0535ET

All news about NOVACYT
10/16NOVACYT : 2021 agm
PU
10/01NOVACYT : Convening notice for 18th October 2021
PU
09/30NOVACYT : Launches Two New PCR Tests for COVID-19, Other Winter Viruses
MT
09/30NOVACYT : R&D update
PU
09/30NOVACYT S.A.(ENXTPA : ALNOV) dropped from Next Biotech Index
CI
09/29NOVACYT : Notice of AGM
PU
09/28NOVACYT : Notice of rescheduled AGM
PU
09/27NOVACYT : 2021 agm
PU
09/27GLOBAL MARKETS LIVE : Intel, Apple, Rolls-Royce, Raytheon, MGM...
09/27NOVACYT : Interim Accounts June 2021
PU
More news
Financials
Sales 2021 112 M 130 M 130 M
Net income 2021 70,0 M 81,4 M 81,4 M
Net cash 2021 90,4 M 105 M 105 M
P/E ratio 2021 3,45x
Yield 2021 -
Capitalization 212 M 246 M 246 M
EV / Sales 2021 1,09x
EV / Sales 2022 0,25x
Nbr of Employees 174
Free-Float 99,4%
Chart NOVACYT
Duration : Period :
Novacyt Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NOVACYT
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus SELL
Number of Analysts 1
Last Close Price 3,00 €
Average target price 4,10 €
Spread / Average Target 36,7%
EPS Revisions
Managers and Directors
Graham David Mullis Chief Executive Officer & Executive Director
James Martin Mccarthy Chief Financial Officer & Director
James Christopher Wakefield Chairman
Reginald A. Trevor Chief Technology Officer
Lisa Henriet Director-Group Operations
Sector and Competitors
1st jan.Capi. (M$)
NOVACYT-69.39%246
MODERNA, INC.220.51%135 157
GILEAD SCIENCES, INC.13.11%82 626
WUXI APPTEC CO., LTD.29.16%65 873
BIONTECH SE220.28%63 059
LONZA GROUP AG27.29%58 232