Source - SMW
Proteome Sciences said revenues to 30 June increased 32% to £1.12 million (2015: £0.85 million).

Licences/sales/services revenues increased 44% to £1.08m (2015: £0.75m), while TMT reagent sales increased 27%.

Administrative expenses rose to £2.27 million (2015: £2.07 million) to fund new equipment and recruitment, while loss after tax was £1.49 million (2015: £1.44 million).

Proteome Sciences CEO Jeremy Haigh said:

"We are pleased to report that performance during the first six months of 2016 has been in line with expectations, and it is encouraging that revenues remain well ahead of the equivalent period in 2015 despite some delays to significant service contracts which are now scheduled to generate income later in the year.

"Managing the progress and delivery of a limited number of these core projects remains fundamental to the performance of our business.

"Our exclusive license to provide isobaric tagging reagents (TMT) to Thermo Scientific is increasingly profitable and sales growth is projected for the foreseeable future."