Horizon has built a world-leading life sciences capability based on the delivery of essential products and services to four large customer groups with clear, unmet needs, which combined represent a £2.2 billion market opportunity growing at approximately 20% per year.
In most cases, the majority of our markets do not consist of direct competitors but are instead formed of substitutes, such as unmodified cell lines or tissue samples, which are being rapidly replaced by more effective solutions such as Horizon’s.
2017 was an important period of transition for Horizon, marking as it did the evolution from a scale-up business into a company able to deliver sustainable profitable growth.
Richard Vellacott, Chief Financial Officer
This year Horizon has taken significant strides in delivering against its growth strategy as we transition from building scale through acquisitions towards becoming a sustainably profitable business driven by demand for our market-leading products and services.
Horizon has made significant progress this year. Financially we have continued to deliver solid growth, while implementing operational efficiency and cost control measures that together have put the group on a path to sustainable and profitable growth. We have considerably strengthened our commercial and operations capabilities so that we are in a better position than at any other time in our history to deliver value to our customers.
The group has made a solid start to 2018, despite foreign exchange headwinds, and is trading in line with Board expectations. As with previous trading years, we expect Group revenues to be weighted to the second half of the year.
With a clear vision and strategy for the business, a strong team in place to deliver it, and good long-term growth prospects from our underlying business, and following the acquisition of Dharmacon, we have high confidence in our future.
Looking to the future, Horizon is in a unique position to have an increasingly significant impact on 21st century healthcare, enabling our customers to transform how life science research is undertaken, how disease is diagnosed, and how effective treatments are developed.