Circassia Group, The Oxford headquartered asthma diagnosis and management company, has reported revenue growth of 28 per cent to £14.6 million and generated an EBITDA profit for the first time of £0.6 million.
Ian Johnson, Circassia’s Executive Chairman, said: “We are pleased to report that the company has reached a significant milestone with the continuing NIOX® business now profitable at the EBITDA level. Management has made substantial progress in implementing a new strategy, right sizing the business and ensuring it has the capability to generate profitable revenue growth. The cost base is now stable and plans to expand international distribution are being executed.
Trading in July and August has been slightly above EBITDA breakeven for the Group (including corporate overheads). Despite revenue visibility continuing to be limited and testing volumes in several of our major markets continuing to be held back by the effects of the pandemic, given the Group’s reduced cost base, the Board believes the full year EBITDA performance is likely to be materially ahead of current market expectations.”
Circassia is a dedicated diagnostics and management company focused on asthma. Its patented technology NIOX products are used by physicians around the world to help improve asthma diagnosis and management. The technology accurately measures Fractional exhaled Nitric Oxide (FeNO).
Circassia was established in 2006 and listed on the London Stock Exchange in 2014. The company is now dedicated to asthma point-of-care diagnosis and management, with market-leading products.