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Belfast listed company says it is in line for growth of 40%


Paul Kerr of Fusion Antibodies

Paul Kerr of Fusion Antibodies

Paul Kerr of Fusion Antibodies

A Belfast firm says it hopes to see growth of around 40% in its business this year, but revenue could be impacted in the short-term by its listing on the stock exchange.

Fusion Antibodies in west Belfast, which floated on the Alternative Investment Market (AIM) last year, said earnings will be broadly in line with market expectations, around break-even.

The firm is based at Springbank Industrial Estate.

"Trading in the first half of the current financial year was particularly strong, with revenues up 70% on the first six months of 2016/17," it said in a fresh trading update.

"Trading during the second half of the financial year will be ahead of the same period last year, but the directors believe that revenue growth rate in H2 has been subject to the short-term impact of the IPO process which required significant management time and focus to complete shortly before the end of the calendar year."

Belfast Telegraph