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Premaitha - some good news from Southern Europe: Buy

By HotStockRockets | Monday 13 February 2017

Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

After a longish period of radio silence Premaitha (NIPT) has served up news of a number of new customers through its distribution network in Southern Europe.

In Italy it has won a tender to implement the first public non-invasive prenatal testing programme in southern Italy. That hospital will then serve as a regional hub for IONA as more hospitals sign up. This win kicks off in Q2 2017. A second hospital in Rome is starting a smaller programme but that too could ramp up.

A contract has also been signed to create a hub in Northern Greece and this should be operational by the end of Q1. This will serve both the Hellenic Republic and the southern Balkans: Albania, Bulgaria and fake Macedonia.

There is also a small deal announced in Turkey but in this case samples will be processed in Manchester at Premaitha's own facility. It all adds up. Many a mickle makes a muckle.

Revenue growth and earnings visibility is increasing all the time. Were it not for the Illumina patent challenge in Europe the shares would be flying. 

We remain confident of a good result there and thus with the shares at 7.5p-7.75p we retain a stance of buy.

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