Oxford's NIOX Group reports revenue growth of 12 per cent
NIOX Group, which designs and sells medical devices for asthma diagnosis and management, has seen revenue growth of 12 per cent for the six months ended 30 June 2024.
The Oxford based company saw revenues of £21 million. Clinical business revenue grew 11 per cent to £18.5 million.
Highlights include the expansion of its distributor network in the USA to target areas of untapped potential which is expected to drive scalable revenue growth.
Ian Johnson, NIOX's Executive Chairman, said:Â "I am pleased to report that the Group continues to perform well with good growth in revenues and profits in the first half of the year. Cash generation remained strong which has enabled the Board to recommend a further return of capital to shareholders by way of a Tender Offer, details of which are announced today.
"The Board remains confident in achieving consensus expectations for the full year."
