March 21, 2018 / 8:04 AM / 4 months ago

BRIEF-Vectura Group Posts FY Reported Revenue Of 148.0 Mln Pounds‍​

March 21 (Reuters) - Vectura Group Plc:

* FULL YEAR REPORTED REVENUE OF £148.0 MILLION, IN LINE WITH BOARD EXPECTATIONS (REPORTED 9M 2016: £126.5 MILLION)‍​

* 2016 FULL-YEAR PROFORMA REVENUE WAS £183.6 MILLION‍​

* MAINTAINS 2018 REVENUE GROWTH EXPECTATIONS AND REITERATES PREVIOUSLY-REDUCED RESEARCH AND DEVELOPMENT INVESTMENT GUIDANCE RANGE OF £55 MILLION TO £65 MILLION FOR YEAR ‍​

* 2017 UNDERLYING REVENUE WAS £131.4 MILLION; +4.0% DRIVEN BY THE GROUP’S KEY-INHALED PRODUCTS

* ENDED THE YEAR WITH A CLOSING CASH BALANCE OF £103.7 MILLION (31 DECEMBER 2016: £92.5 MILLION)

* FY ADJUSTED EBITDA WAS AHEAD OF EXPECTATIONS AT £25.8 MILLION PROFIT (REPORTED 9M 2016: £34.1 MILLION PROFIT)

* NOTWITHSTANDING DISAPPOINTING DELAYS CO SEEN FOR VR315 (US) GENERIC ADVAIR PROGRAMME, CONTINUE TO SEE SUBSTANTIAL VALUE IN DEVELOPMENT OF COMPLEX INHALED GENERICS‍​

* LOOK FORWARD TO A SERIES OF SIGNIFICANT NEWS FLOW CATALYSTS DURING 2018 Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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