FINANCIALS: ClearStar reveals rise in revenue

Background screening services provider ClearStar has seen revenue increase 17% year-on-year.

According to an update on trading for the six months ended 30 June 2019, the group posted revenue of $11.6m (£9.3m), up from $9.9m in H1 2018 amid strong revenue growth for its direct services business channel and its medical information services division.

Robert Vale, CEO of ClearStar, said: “This was a fantastic period for ClearStar as we delivered strong revenue growth, particularly in direct services, which increased by almost 50%. We have begun each of the last five years from a higher revenue base as we progressively increase our run rate, and this year we are tracking our strongest growth trajectory yet. 

“This has been reflected in ClearStar delivering our highest ever monthly revenue in June 2019, which was nearly 30% greater than June 2018. With an expanding pipeline and a booming US jobs market, we remain confident of achieving strong growth for full year 2019 and look forward to reporting further progress.”

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