Venn Life Sciences expecting revenues to double

8th Jan 2016 16:44

(ShareCast News) - Venn Life Sciences was working to please investors on Friday, revealing its expectations for the year ahead of its full-year results.The AIM-listed drug development services company said revenues for the full year to 31 December were expected to be at least double the previous year, when they were €4.9m (£3.68m).Venn said it was well-funded for future growth, and had cash reserves of €3.4m, with the business now generating free cashflows."We have now more than doubled our book of business in successive years and built a strong foundation on which we can deliver further growth," said CEO Tony Richardson."The addition of drug development and early phase capabilities into our service offering will enable us to capture greater market share in 2016, and truly differentiate our position in the market."