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Data analytics company Ixico swung to an annual profit as an increasing portfolio of clinical trial projects boosted services revenue.
For the year ended September 30, the company reported a pre-tax profit of £366K compared with a loss of £793K on-year as revenue grew 40% to £7.6m.
Revenue growth was driven by an increasing portfolio of clinical trial projects, a widening of neurological therapeutic areas being serviced and the impact of a Phase III clinical trial accelerating enrolment in the second half of the year, the company said.
'With a healthy order book of £15.9 million, new contracts signed since the year end, and a new US-based Chief Business Officer we continue to execute our ambitious growth plans with the aim of delivering another record year,' it added.