Bioventix PLC on Monday reported a rise in annual profit as sales of antibodies against troponin, a protein linked to heart attacks, surged.
The London-based biotechnology company said that total troponin antibody sales from Siemens Healthineers AG and another separate technology sub-license almost doubled to £1.2 million from £680,000 a year prior.
Pretax profit in the year that ended June 30 rose 14% to £9.3 million from £8.1 million a year prior. Revenue grew 7.2% to £11.7 million from £10.9 million.
Bioventix noted that antibody sales to China continued to grow. A majority of its physical antibody sales are priced in dollars, with royalty revenues from multinational customers arriving usually in dollars or euro. For financial year 2022, the company reported a gain on foreign exchange of £92,856, swung from a loss of £294,046 the year before.
Cash at June 30 however fell 6.2% to £6.1 million from £6.5 million.
The company paid a total dividend of £1.00 per share, unchanged from the year before. While the second interim dividend rose to 74 pence from 62p, the special dividend fell to 26p from 38p.
Looking ahead, Bioventix said: ‘Excellent technical progress has been made with our research projects, and we anticipate that our pipeline of opportunities will create additional shareholder value in the period 2026 to 2036’.
Bioventix shares were 3.7% higher at 3,433.50 pence each in London on Monday morning.
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