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Investing.com -- Bioventix PLC (LON:BVXP) on Monday reported a 4% decrease in annual revenue to £13.1 million for the year ended June 30, 2025, as the UK-based antibody developer faced headwinds in the Chinese market.
Profit before tax fell 5% to £10.1 million compared to £10.6 million in the previous year, according to the company’s audited results released Monday. Cash at year-end stood at £5.1 million, down from £6.0 million a year earlier.
The company, which specializes in developing high-affinity monoclonal antibodies for clinical diagnostics, declared a second interim dividend of 80 pence per share, bringing the total dividend for the year to 150 pence per share, slightly below the 155 pence paid in 2024.
Bioventix’s core vitamin D antibody business showed resilience with a 12% increase in sales to £6.6 million. However, the company experienced significant declines in several product areas, including biotins and biotin blockers (down 40%), progesterone (down 16%), and estradiol (down 19%).
The company cited ongoing challenges in China, where government procurement policies aimed at reducing healthcare costs have created price pressure on diagnostic assay sales. This has affected both Western customers operating in China and local Chinese companies using Bioventix antibodies.
"We expect the year to 30 June 2026 will follow a similar pattern to this year with a number of headwinds remaining within the historic core business," the company stated. "As a result, we anticipate a modest decline in revenues in 2025/6 with future growth driven by the substantial opportunities in neurology and greater use of troponin testing."
A bright spot in the results was the company’s neurology business, where total Tau/neuro SMA sales increased fourfold from £155,000 to £605,000 during the year.
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