Source BioScience announces record-breaking performance for 2015

Source BioScience has confirmed that it delivered another record-breaking financial performance in 2015.

The company has issued a trading update ahead of its full fiscal report, scheduled for the latter half of March 2016. The update revealed that revenue for 2015 is anticipated to be ahead of 2014, albeit slightly lower than expected.

Growth within its laboratory services division and the acquisition of Select Pharma Laboratories in the second half of 2015 have been cited as key drivers, offsetting a decline in the liquid-based cytology market for cervical cancer screening.

Other key highlights include the launch of a US DNA sequencing service in Atlanta, the introduction of a non-invasive prenatal testing service, the enhancement of its Just Between Us online sexual health service, and the award of a first contract with the European Centre for Disease Control for next-generation DNA sequencing.

Dr Nick Ash, chief executive officer of Source BioScience, said: "We are pleased to report another record year, with continued improvement in the financial performance of the group and are encouraged by the opportunities and outlook for 2016."