Published on: January 26, 2022
Trading in-line, all key metrics improving
Instem has delivered a positive trading update for the year to 31 December 2021, reporting like-for-like (LFL) revenue growth of over 10% on a constant currency basis and a £15.1m closing (gross) cash position. FY21 was a period of material operational progress for the group, and the release signals that, alongside the strong organic performance, the three transformational acquisitions completed during the year are integrating well. Management commentary on the outlook is positive and we make no changes to earnings estimates following the announcement. Overall, we believe the update will give confidence in Instem’s continuing ability to deliver both organic and acquisition-driven growth.