Analytical science and device company Trajan Group has reported strong revenue growth in its half year results for the 2023 financial year.
The company reported revenue of $80.1 million for 1H FY23, an increase of 83.2 percent on the previous corresponding period (PCP), delivering a normalised EBITDA of $10.3 million, an increase of 115.9 percent on the $4.8 million in the previous corresponding period.
The company has reported more than 11 years of consecutive growth.
Given strong first half performance, Trajan has upgraded guidance for the full year FY2023 with revenue forecast between $155 million to $165 million and normalised EBITDA of between $21.7 million and $25.8 million.
Trajan is a global provider of engineered components and analytical equipment, with a background in chromatography and mass spectrometry. These technologies enable measurements in biology, food and the environment.
A series of acquisitions, including the most recent earlier this month of a specialised software business from California-based Sierra Analytics, drove revenue growth, along with organic growth.
The comopany told investors: “Trajan experienced increased supoply chain costs during the period.
“The impact of these costs was offset through price increases passed on to customers in a phased process during the period.”
Analytical product segment revenue was $43.2 million, up 49.2 percent, while life science segment revenue was $36.9 million, up 149.8 percent on the previous corresponding period.
The company finished the half with cash reserves of $21.1.
TRAJAN EXPANDS WITH US SOFTWARE ACQUISITION
Picture: Trajan Scientific and Medical