PARIS, Jan 29 (Reuters) - Clinical diagnostics group Novacyt on Friday reported strong sales and profit for 2020 and said demand for its COVID-19 products remains strong.
One of many healthcare companies whose shares have surged during the coronavirus crisis, Novacyt said its unaudited trading update for 2020 showed a twentyfold jump in revenue to 311.6 million euros ($377 million). Its full-year gross margin was above 80%, compared with 64% in 2019.
“Novacyt has had a strong start to 2021 across the business, with demand for the COVID-19 product portfolio remaining strong,” added Novacyt, shares of which are up 23% so far in 2021. ($1 = 0.8259 euros) (Reporting by Sudip Kar-Gupta Editing by David Goodman)