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(Sharecast News) - Niox Group reported strong trading in the first four months of 2025 on Wednesday, with group sales rising 21% year-on-year, supported by continued momentum in its clinical business and a sharp increase in research revenues.
The AIM-traded company, which was holding its annual general meeting in Oxford, said clinical sales grew 10% in line with expectations, while its research division more than doubled revenues compared to the same period in 2024.
It attributed the surge in research activity to increased use of FeNO testing in clinical trials for asthma and COPD, though it noted that demand in the segment remained inherently unpredictable.
Net cash stood at 14.5m as of 30 April, up from 10.9m at the end of December, despite bonus payments during the period.
Exceptional costs of 0.3m were recorded in connection with the withdrawn takeover approach by Keensight.
Niox reaffirmed its strategic focus for 2025, including accelerating adoption of FeNO testing in the US, launching the 'NIOX PRO' device in the fourth quarter, and beginning development of the home-use 'MyNO' device.
The firm said it did not expect recently-announced US tariffs to have a material impact on its operations, adding that it would aim to offset any cost increases through pricing adjustments.
Leadership changes announced earlier in the year were also taking effect, with Sarah Duncan succeeding Michael Roller as chief financial officer, and Ian Johnson moving to the role of non-executive chairman.
A further trading update was expected in July.
At 1023 BST, shares in Niox Group were up 3.1% at 69.9p.
Reporting by Josh White for Sharecast.com.
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