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Share Name | Share Symbol | Market | Type |
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Boiron | EU:BOI | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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-0.40 | -1.45% | 27.10 | 27.00 | 28.40 | 28.05 | 27.05 | 27.05 | 1,402 | 16:40:00 |
RNS Number:1812T Biotrace International PLC 12 December 2003 For Immediate Release: 07.00 am, Friday, 12th December 2003 BIOTRACE INTERNATIONAL PLC Pre Close Trading Update Biotrace International Plc (the "Group"), a leading manufacturer and supplier of industrial microbiology and life science products, will announce its preliminary results for the year to 31 December 2003 on 3 March 2004. Ian Johnson, CEO, commented on trading in the second half of the year, said: "Despite currency weaknesses in the second half of the year, I am pleased to announce that the Group's sales and profits for the current year are likely to be in line with the Board's expectations. During the second half we have continued to experience strong growth from existing business and through acquisition. Biotrace derives approx. 90% of its revenues from repeat consumable sales, which have continued to grow throughout the year. Capital equipment sales have remained weak, which has mainly affected the Ruskinn brand, but this has largely been offset by robust consumable sales. There is some evidence of the easing of capital equipment budgets, which together with the recent launch of our new hygiene instrument and air sampler should further improve the Group's prospects next year. I am delighted to be able to report that the integration of International BioProducts Inc. ("IBP") acquired in September is progressing well. The organisations in North America have been merged and the former Biotrace Inc. HQ has now been closed. This, coupled with the relocation of Ruskinn products to Bridgend, will lead to operational savings in 2004 and beyond. IBP products are currently being launched into the Group's European and Asia-Pacific distribution network, which should contribute to organic growth next year. As a result of the acquisition of IBP, the Group now earns half its income from North America which has further exposed the Group to US$ Dollar exchange rate fluctuations. This has had an adverse affect on this year's sales and will continue to have an impact on sales in 2004. I am pleased to report that Defence sales have continued to be strong during the second half with the #1.35 million order received in March now having been completed. Despite a further batch of reagents being deferred to January 2004, defence sales for 2003 should be at record levels. However, even though we now have greater visibility on Defence sales, we anticipate that sales in 2004 are likely to drop below historic levels. Overall, The Group has made excellent progress during the year in executing its plans to become a leading supplier of industrial microbiology products. Going forward, sales of Industrial products are expected to account for approx. 90% of the Group's turnover and investment in new products, particularly in Ruskinn, will continue to fuel organic growth next year. Further acquisitions are envisaged next year to enhance the Group's European distribution and broaden the product range and we look forward to reporting continued growth in 2004". ENDS - For further information, please contact: Biotrace International Ian Johnson, Chief Executive Officer Tel: +44 (0) 1656 641 400 Peter Morgan, Finance Director Buchanan Communications Tim Andersen / James Strong Tel: +44 (0) 20 7466 5000 Notes to editors: Biotrace International Plc is a leading manufacturer and supplier of microbiology instrumentation and test reagents to industrial, healthcare and defence markets. Biotrace is the acknowledged leader in rapid hygiene testing and the continuous real-time detection of airborne biological weapons. Many of the world's leading food manufacturers and catering companies, including 19 out of the top 20 world food groups now rely on Biotrace as an essential part of their quality procedures. Industrial customers include many of the world's largest water treatment chemical multi-nationals. Biotrace also supplies highly specialised workstations to hospitals, public health laboratories and medical research institutes for the examination of micro-organisms and diseases. A small part of the Company's business is the manufacture and supply of equipment and reagents for the detection of biological weapons, which it supplies to the UK MoD, other foreign governments and large defence contractors,. Formed in 1988 and floated on the London Stock Exchange in 1993, Biotrace intends to continue to broaden its business base through organic growth and acquisition of products and technologies to become a 'one stop shop' for its large and growing international customer base. This information is provided by RNS The company news service from the London Stock Exchange END TSTGGMMZRMDGFZM
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