Hvivo plc AIM:HVO
- Incorporated
- United Kingdom
- Chief executive
- Kym Denny
- Employees
- 138
- Reports in
- GBP
- Companies House
- 08008725
Read straight from the annual reports
6.2p at close on 8 Oct 2026 · 4 reported years, 2015–2018
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GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
4 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
hVIVO plc runs clinical trials that deliberately infect healthy volunteers with viruses such as flu to test new medicines and vaccines. Revenue edged up to £11.0m from £10.9m, but the loss after tax widened to £16.8m from £12.9m. The bigger loss came mainly from one-off write-downs, none of which happened the year before. The company cut the value of its stake in another business, PrEP Biopharm, to nothing. It also wrote down intellectual property after closing its Welwyn research site and set money aside against a stock of virus. Spending on research fell after most early-stage drug projects were stopped. Cash fell to £13.4m from £20.3m and had dropped to £8.3m by 31 March 2019. The company has no borrowings, raised only a small sum from new shares and paid no dividend. Management aims to become profitable by growing sales and cutting costs. It pointed to an order book of £15.8 million at the year end, well up on a year earlier. The auditors gave a clean opinion. The directors noted that future cash depends on winning new business in 2020 and beyond.
Human challenge study services across flu, RSV and HRV disease models
hVIVO remains the only company with a validated RSV challenge model commercially available to customers; conducted over 50 challenge studies
page 7Expansion into respiratory indications (asthma, COPD, cough)
Completed a novel cough model study using HRV for a large pharmaceutical company customer; expanding offering into airways diseases
page 6Cost reduction programme
Cost reduction programmes forecast to deliver total savings of £3.9 million across 2018, 2019 and 2020; further phase expected to realise an additional operating cost saving of similar magnitude
page 18Unit utilisation / operating leverage against fixed cost base
Utilisation of unit increased from 35% to 40% during 2018 due to increasing volunteer numbers, enabling better absorption of the fixed-cost base; unit operating at 40% bed occupancy with scope for increased utilisation in 2019
page 17£2.6m charge: Impairment of intangible assets (acquired IP and capitalised software following closure of Welwyn discovery facility)
page 44We remain focussed on building a profitable clinical development services business. This will be delivered through a strategy of driving revenue growth and reducing operating costs to enable cash generation.
page 11There are no events after the balance sheet date requiring disclosure (per the Directors' report)
page 33The Directors adopted the going concern basis, noting the Group's relatively fixed cost base, inherent uncertainty in contract forecasts, and dependence on winning new business in H1 2020 and beyond, but concluded there are sufficient contracts in the pipeline for adequate cash resources over the next twelve months. Ernst & Young LLP issued an unqualified (true and fair view) audit opinion on the Group and parent company financial statements, with nothing to report on going concern. Key audit matters were: revenue recognition under the percentage-of-completion method, valuation of investments in joint ventures and associates, going concern, and carrying value of the parent company's investment in its subsidiary. Group audit materiality was £158,000 (1% of operating expenses).
page 37- Cancellation or delay of client contracts due to unexpected or undesired clinical resultsp.21
- Competition and pricing pressure from rapid technological change in the biopharmaceutical industryp.21
- Biopharmaceutical industry trends: clients reducing R&D/regulatory compliance expenditure, failing to grow outsourcing, or consolidating with competitorsp.21
- Regulatory, quality and ethics framework: failure to comply with GCP, MHRA, FDA and other regulationsp.22
Read from C000639-AR-2018-ch.
3 annual reports read, FY2016 to FY2018
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (3)
FY2019Next report expected 24 Apr 2020