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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Gentex Corp. | TG:GTX | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.40 | -4.64% | 28.80 | 28.60 | 28.80 | 30.00 | 28.00 | 30.00 | 140 | 22:50:16 |
RNS Number:3832K Genetix Group PLC 25 April 2003 FOR IMMEDIATE RELEASE Genetix Group plc Trading Update New Milton, UK, 25 April 2003 - The Board of Genetix Group plc (LSE: GTX) (" Genetix" or the "Company"), the genomics and proteomics technology group, today announces the following update on trading. The challenging market conditions experienced in 2002 have deteriorated during the first four months of 2003. In line with many other companies in the Company's sector, global economic uncertainty and government spending policies have led to a fall in demand and delays in order placement. This has meant that sales so far this year have been significantly below the same period in 2002, particularly in the Far East. The Company's consumables and services business has been less volatile and remains broadly in line with the same period last year. Genetix continues to broaden its product portfolio with new cell biology and proteomics products. Together with its significant cash resources, this is enabling Genetix to increase its potential markets and exploit a variety of longer-term opportunities. Genetix continues to direct additional resources to sales and marketing, including the recent appointment of a senior executive to manage North America (representing around 50% of worldwide sales), and is in the process of recruiting additional sales and support staff for our Boston office. This should allow the Company to further improve customer support and to increase sales. In view of the uncertain economic environment, the Company continues to be cautious about prospects for 2003, but anticipates maintaining its strong cash position of over #20 million. In addition, through its innovative and superior product range and pipeline, Genetix is positive about the longer-term prospects for the Company. Enquiries: Genetix Group plc Mark Reid, Chief Executive Gary Corsi, Finance Director Tel: 01425 624600 Financial Dynamics Jonathan Birt/Francetta Carr Tel: 020 7831 3113 The release will be available on the Company's website: www.genetix.com Notes to Editors About Genetix Group plc Genetix Group plc is a leading developer of automated systems for the understanding of systems biology. Genetix made a significant contribution to the Human Genome Project by supplying high-throughput equipment to seven of the leading eight laboratories in the consortia. Genetix, through its R&D expertise and scientific resource, is committed to the continual development of innovative solutions to accelerate the rate of global scientific discovery. Genetix is quoted on the London Stock Exchange and is based in New Milton, Hampshire, UK. This information is provided by RNS The company news service from the London Stock Exchange END TSTILFEISSIEFIV
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