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Vectura revenue jumps 59 pct, beats estimates

Reuters - UK Focus

May 20 (Reuters) - Respiratory drugs specialist Vectura Group Plc reported a bigger-than-expected jump in full-year revenue as it raked in higher royalty payments and licensing revenue.

The company, which develops and markets drugs for illnesses such as asthma and chronic obstructive pulmonary disease, said revenue rose to 58 million pounds ($89.8 million) in the year ended March 31 from 36.5 million pounds a year earlier.

Analysts on average expected revenue of 52.8 million pounds, according to Thomson Reuters I/B/E/S.

Royalty revenue rose 55 percent to 25.2 million pounds, while product licensing revenue increased 49 percent to 19.8 million pounds, Vectura said. ($1 = 0.6457 pounds) (Reporting by Roshni Menon in Bengaluru; Editing by Gopakumar Warrier)