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Instem said it expected that full-year performance would be in line with expectations with first-half revenue growth of about 10% year-on-year with all three of its business segments performing 'well.'
The positive market backdrop and growth in the size of the global pharmaceutical R&D pipeline resulted in all three business areas delivering 'positive operational progress during the period,' the company said.
Increased new customer wins in the Data Collection business, alongside continued growth in existing customer volumes across the company's Informatics and Regulatory Solutions technology enabled services, 'contributed to this performance,' it added.
Revenue growth in excess of 20% from the company's augmented intelligence Informatics services, meanwhile, demonstrated the 'increasing market appetite for sophisticated in-silico approaches to accelerate and improve on traditional pharmaceutical R&D processes.'
Looking ahead, the company said it would seek to further diversify revenue by both type and geography to benefit performance through the remainder of the year.
At 9:48am: (LON:INS) Instem Plc share price was +5p at 360p