Novacyt: stock soars with VAT recovery

(CercleFinance.com) - Novacyt shares have jumped over 20%, with the in vitro and molecular diagnostics company having announced that it has successfully reclaimed £12.
2m in VAT from the UK Department of Health and Social Care (DHSC).

Note that it filed a claim for the refund of approximately £12.2m in VAT relating to invoices from the Department, which will therefore remain unpaid following the settlement of the dispute with the DHSC.

Following the settlement of the dispute, including the payment of £5m to the DHSC (paid in early July), Novacyt's net cash position increased by over £7m.


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