Core markets boost interim figures at Celsis
Wednesday, November 12, 2008
Life science group Celsis said today a strong first-half performance by its higher margin rapid detection and in vitro technologies products businesses had offset a slowdown in its analytical and development services division.
As a result group interim sales in the six months to September 30 were up 3.5% on the same period last year to $27.2 million (£17.7 million) with pre-tax profits up 17.8% to $5.0 million. Earnings per share increased 14.1% to 15.99 cents.
Sales at rapid detection were up 20.0% to $11.7 million and at in vitro technologies up 13.6% to $5.4 million. However, analytical and development services experienced a slower first half with revenue down 14.3% to $10.1 million. Celsis blamed the decrease in a slowdown in manufacturing output and timing of large contracts.
Jay LeCoque, the company’s chief executive said: “Overall, we remain on track to meet our expectations for the year. We are confident that our business model, which provides our customers with products and services that save both time and money, is gaining momentum in the current economic environment and will continue to drive the growth of the combined Celsis Group.”
LeCoque said the company was also continuing to evaluate new acquisition opportunities to expand its growing business portfolio.
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