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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Celadon Pharmaceuticals Plc | LSE:CEL | London | Ordinary Share | GB00BDQYGP38 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.50 | 2.52% | 61.00 | 57.00 | 65.00 | 61.00 | 59.50 | 59.50 | 12,246 | 14:00:11 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Investment Advice | 149k | -7.14M | -0.1082 | -5.64 | 39.26M |
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Celsis International PLC
24 May 2005
CELSIS INTERNATIONAL PLC
PRELIMINARY RESULTS FOR THE YEAR ENDED 31 MARCH 2005
STRONG GROWTH CONTINUES AT CELSIS
Embargoed until 7:00am 24 May 2005
Celsis International plc, the rapid microbial detection and analytical services
company, announces its preliminary results for the year ended 31 March 2005.
Key Points
* Turnover up 10.1% to $30.4 million (2004: $27.6 million)
* Profits before tax up 19.1% to $5.75 million (2004: $4.83 million)
* Operating margins rise to 18.9% (2004: 17.5%)
* Diluted pre tax earnings per share up 17% to 5.09 cents (2004: 4.35
cents)
* Strong cash position as of 31 March 2005 with $17.36 million (2004:
$14.21 million)
* Recommended dividend of 1.02 cents per share (2004: 0.86 cents) up
18.6%
Jay LeCoque, Chief Executive Officer of Celsis, commented:
"I am very pleased to announce another strong set of results, with substantial
increases in revenues, profits and dividends. Our Product Group continues to
expand globally across all market segments while also successfully expanding
into new areas such as vaccines. Our Laboratory Group built upon a strong first
half with orders increasing across its pharmaceutical and biopharma customer
base.
"Looking forward, there are good prospects for further growth in the current
year. We operate in expanding markets and have invested significantly in our
businesses to be able to supply the products and services our customers require.
We are confident of further good progress this year."
Enquiries:
Celsis International plc Tel: 01638 600 151
Jay LeCoque, Chief Executive Officer Tel: 020 7831 3113
Christian Madrolle, Finance Director on 24 May 2005
Financial Dynamics Tel: 020 7831 3113
Ben Atwell
David Yates
A presentation for analysts will be held at Financial Dynamics at 9.30am today,
Tuesday 24 May 2005. Please call Mo Noonan at Financial Dynamics on 0207 269
7116 for further details.
Celsis International plc
Celsis International plc is a rapid microbial detection and analytical services
company. The company is listed on the London Stock Exchange (CEL.L). Further
information can be found on its website at www.celsis.com.
Chairman and Chief Executive's Review
Introduction
During the past year, the markets for our products and services continued to
expand and our Product and Laboratory Groups again produced strong performances.
We remain focused on bringing new technologies and services to our growing
global customer base to help them improve their manufacturing productivity and R
&D efficiencies.
Using its proprietary enzyme technology, the Product Group is the world leader
in the provision of diagnostic systems for the rapid detection of microbial
contamination. It works in close collaboration with many of the world's leading
pharmaceutical, personal care and beverage companies, ensuring the safety and
quality of products bound for consumers. The Laboratory Group provides
outsourced analytical testing services to pharmaceutical and biopharma companies
to ensure the stability and chemical composition of their products.
In addition to ensuring product quality and safety for consumers, both divisions
have the capacity to deliver substantial cost savings to Celsis' customers. By
reducing the time it takes to test and release raw materials and finished goods
to the market place, Celsis' products facilitate increased manufacturing
productivity and improved supply chain management.
For the year ended 31 March 2005, we are pleased to report both strong revenue
and profit growth across the Group. Total Group revenue increased 10.1% to
$30.4 million (2004: $27.6 million) and profit before tax increased 19.1% to
$5.75 million (2004: $4.83 million). We continued to build our cash reserves to
$17.36 million (2004: $14.21 million), whilst also investing in our growing
businesses as well as strategically reviewing new areas of business opportunity.
We see healthy, sustainable growth across both our businesses and remain
confident of the long-term prospects for the Company.
Product Group
Our Product Group, which provides rapid microbial detection systems to ensure
the safety and quality of products bound for consumers, represented 52% of total
Group revenues this fiscal year. Celsis is the global leader in this business
and, as companies become increasingly concerned about the safety of their
products as well as the efficient management of their inventory, we are seeing
an accelerating rate of adoption of our testing systems. Revenues increased
12.7% to $15.8 million (2004: $14.0 million). Instrument sales were
particularly strong in our first half, with follow-on reagent usage picking up
strongly in the second half. Reagents and consumables now represent over 80% of
Product Group revenues.
Our personal care and pharmaceutical business unit revenues increased 21% and
now represent 63% of Product Group revenues. We secured strong instrument
growth during our first half of the year as our large Global Corporate Account
Management (GCAM) customer base continued to implement our rapid detection
systems throughout their global manufacturing operations. Reckitt Benckiser is
one important customer of note, which has been added to our GCAM platform.
Growth in Asia and the rest of the world was impressive with progress into the
new EU countries also strong.
We have recently launched our RapiScreenTM Biologics kit for the rapid microbial
screening of in-process vaccine manufacture which is targeted at assisting
vaccine and other biologic manufacturers overcome these issues. Growth for this
new testing system has been strong and we have secured MedImmune as one of our
initial customers. MedImmune has now completed the validation of our system for
their routine vaccine manufacture. In addition, we are working with several
other large vaccine producers and expect more news in the near term on the
continued growth of this important new market segment.
We have other customer related projects underway to expand the capabilities of
our new Biologics platform. We view this new biopharmaceutical customer base as
an important and growing industry for our Product Group in the future. The cost
savings offered by our rapid microbial detection systems are very significant
when compared to the cost of contaminated biological materials and the issues
associated with waiting for more traditional and non-rapid microbial testing
procedures.
Our dairy business unit operates in a more difficult pricing environment but
nevertheless managed to increase revenues by 6% as a result of the strong
customer preference for our new InnovateTM testing system, coupled with our new
information management system Innovate.imTM and RapiScreenTM Dairy testing
system. Our new Innovate system leads the industry technically and has quickly
become the industry standard for rapid microbial detection in the UHT and ESL
dairy product industry. We are experiencing far stronger revenue growth in some
regions, with North America and Asia being particularly strong in business
volume increases this past year.
In non-dairy beverage, our business has been growing rapidly and we were pleased
to secure a new placement at Coca-Cola's Brazil facility, which is one of the
largest facilities for Coke in Latin America. As with our dairy business, we
have combined our new InnovateTM and Innovate.imTM systems with our new
RapiScreenTM Beverage testing system and seen substantial take-up by our
customers.
As we manage this strong global expansion of our existing product platforms, we
are also moving ambitiously into new areas where our rapid microbial testing
systems can add significant value to our customers' operations. In the
vaccines market, for example, which is currently seeing a resurgence in growth
as a result of recent advances made in biological research, the manufacturing
process is by its nature easily prone to contamination and this can result in
large scale stock write-offs and production shortages.
As mentioned in our Interim results, we are also in discussion with some of the
world's leading clinical diagnostics companies to expand both our product range
and technology base for rapid microbial detection beyond ATP bioluminescence.
We remain convinced that technologies which have been developed for use in
clinical diagnostics could be very useful to our customers in the industrial
testing arena. Our understanding of this customer base and our ability to
leverage our global sales channel provide us with unique advantages in the
development and commercialisation of such new product offerings.
Laboratory Group
Our Laboratory Group, which provides outsourced analytical testing services to
the pharmaceutical and biopharmaceutical industries to ensure the stability and
chemical composition of their products, represented 48% of total Group revenues
this fiscal year. Revenues grew 7.3% to $14.6 million (2004: $13.6 million) as
customer orders remained solid after a strong first half. Our operating
structure based around two business units, Chemical Sciences and Biological
Sciences, continues to allow the focus and specialisation required to meet the
needs of these two different but equally important customer segments.
Our Chemical Sciences business unit represented 70% of our Laboratory Group
business this fiscal year. Revenues increased 13% to $10.1 million (2004: $8.95
million). The success of our highly focused business development team in
expanding our pharmaceutical and biopharma customer base has been a significant
factor in our Chemical Sciences strong growth this year. We re-secured one of
our largest customer contracts with Lonza Inc., as well as with other major
customer contracts and also added new customers such as Cardinal Health and Jel
Sert, a contract manufacturer for Pfizer's Pediacare Business, to our growing
Chemical Sciences customer base.
Our Biological Sciences business unit decreased (5%) to $4.4 million (2004: $4.6
million) due to the sudden completion of a major water testing project and no
subsequent large customer contract to immediately replace this lost business.
Excluding this lost customer revenue our remaining business was up 3%. We are
continuing to focus on this more price sensitive business unit and have
concentrated our business development resources toward higher margin services,
such as specific microbial identification testing in the Biological Sciences
team. In the first months of this new fiscal year, we have already seen much of
this lost business replaced on a month to month basis.
Our business growth demonstrates that our current customer focused strategies
are resonating strongly with our customer base. We remain focused on expanding
our higher margin service offerings and will continue to develop our resource
base accordingly to further our expertise in these areas.
Financial Review
As in the previous year our Group's foreign exchange policy has continued to
mitigate currency fluctuations resulting from the relative strength of the Euro
versus the US$ during most of the financial year under review. On average the
Euro strengthened 7% against the US$ from 2003-2004 to 2004-2005. Although more
moderately than during 2003-2004 when it reached 18%, the adverse currency
impact on our manufacturing and distribution Euro-denominated costs has been
once again fully absorbed by the positive currency impact on Euro-denominated
revenue when retranslated into US Dollars.
The US$ continues to be the currency of reference to provide the best visibility
on the Group's overall performance, as a large component of Celsis' revenues
arises in the Americas and Asia.
Results
Both turnover and profit reached record levels this year. Total revenues for
the year ended 31 March 2005 were up 10.1% at $30.4 million against $27.6
million the previous year and both the Product and Laboratory Groups reported
significant turnover growth. Group profit before taxation was up 19.1% to $5.75
million and operating margins reached 18.9%, compared with a profit of $4.83
million and margins of 17.5% the previous year.
Earnings and Taxation
The Group's profit after tax was $7.65 million, up 14.9% against a profit after
tax of $6.66 million the previous year. The Product Group and the Laboratory
Group both contributed to the total earnings growth, although a significantly
stronger contribution was made by the Product Group.
Celsis has accumulated during its initial years of operations a significant
amount of tax losses carried forward both in the UK and in the US. We started
two years ago to recognise that these accumulated tax losses represented an
asset which would be recoverable in the coming years. A prudent approach has
been taken and the recognition of these assets has only been made gradually
against strong profitability forecasts. At the end of last year we had
recognised all our UK tax losses and we started the year 2004-2005 with a total
of $3.56 million of recognised but still unutilised deferred tax assets related
to tax losses carried forward.
This year we have continued, as we did for the first time last year, to utilise
existing tax losses and offset them by taxable profits. As the profit growth of
the Company has continued both in Europe and in the US, we have decided to
recognise all remaining tax losses as at 31 March 2005 and after allocation of
the taxes arising out of this year profit before tax and marginal taxes of
$0.342 million. We have booked a net deferred tax asset gain of $1.90 million.
With this final deferred tax asset recognition, Celsis' balance sheet now shows
a total amount of $6.00 million corresponding to all amounts deductible from
future tax liabilities and there is now a greater visibility in the future cash
flow benefits from taxes not having to be paid for several years.
The Board is recommending a dividend of 1.02 cent per share, an increase of
18.6% over 2003-2004.
After recognising the final deferred tax asset equity shareholders' funds have
grown 23.0% from $27.21 million to $33.47 million.
Fully diluted pre-tax earnings for the year were 5.09 cents a share compared to
4.35 cents a share the previous year, an increase of 17%. Fully diluted after
tax earnings for the year were 6.77 cents a share compared to 6.00 cents a share
the previous year, an increase of 12.8%.
Gross Margin
Gross margins for the year under review have remained stable at 65.9% against
65.8% last year.
Operating Expenses
Our operating costs increased 7.1% from $13.55 million last year to $14.51
million this year. Sales and marketing expenses represented 33.7% of revenues,
against 35.1% the previous year, as the strengthening of our sales and sales
management teams implemented last year has delivered the expected results.
Administrative expenses remained almost flat at 11.6% of revenues versus 11.1%
the previous year.
Our research & development efforts have focused on the development of the new
RapiScreen Biologics Kit and RapiScreen Beverage Kit. Our overall R&D
expenditure has decreased slightly from $782,000 to $733,000. Increased
efficiencies, primarily in reducing lead times for introduction of new products
resulting from closer cooperation with the manufacturing operations, have
continued to be achieved.
Cash Flow
Cash generation has continued to be strong across the Group with $7.09 million
of operating cash flow for this year, up from $6.5 million the previous year.
Capital expenditure for the year to 31 March 2005 was $2.06 million, compared
with the previous year's figure of $1.33 million, reflecting the investment
programme including new instrumentation, laboratory space extension in New
Jersey, new R&D laboratory in Chicago and deployment of CRM and upgrade of our
ERP software.
We have invested significantly in the future of the Group this year to ensure
that future growth opportunities will be adequately captured with an efficient
infrastructure. The total cash inflow before financing of $4.65 million against
$5.26 million last year reflects this increase in capital expenditure. The
total cash position including cash and cash equivalents has continued to improve
significantly to $17.36 million against $14.21 million last year, generating a
total net cash inflow of $3.13 million after the financing of a $2.06 million
investment plan and the acquisition of $0.42 million of Treasury Shares to meet
future stock option exercise requirements.
Group cash balances are invested in short-term money-market instruments
exclusively in the UK. With a substantial proportion of the Group's revenue and
profits earned in US$, the short term money market instruments are mostly in
this currency. Interest receivable decreased in line with the decrease of short
term investment interest rates, although the second part of the year showed a
progressive tightening of US$ interest rates.
Balance Sheet
The inventory value has slightly increased 2.9% from $2.76 million last year to
$2.84 million this year, but at a much lower pace than the growth of revenue.
Trade debtors remained under strict control at $5.15 million against $5.12
million last year showing an increase of 0.5%, a much slower rate than the
overall growth of 10.1% of revenues. Other debtors increased from $0.80 million
last year to $1.42 million this year, with the main other debtor account being
the $0.28 million to be received by the Company as a result of a legal dispute
settlement with one of our US competitors. The final payment was received on 7
April 2005. The total debtors account increased from $6.07 million last year to
$6.64 million this year. Our total recognised but unutilised deferred tax asset
account increased from $3.56 million to $6.00 million.
Short term creditors increased to $5.22 million against $4.45 million last year
and long term liabilities continued to decrease from $0.28 million last year to
$0.15 million this year. Total creditors include an amount of $1.15 million for
dividend against $0.97 million last year and have increased from $4.81 million
last year to $5.37 million this year. The Group's net assets have increased
23.0% during the year moving from $27.21 million to $33.47 million.
The Group's balance sheet continues to strengthen, and with no long term debt
and solid free cash generation, the Group expects that it will be able to
finance its operating costs, together with normal levels of capital expenditure
and other commitments including dividends and tax, from its existing resources.
The Group may in the future have additional demands for finance and has access
to other sources of liquidity from banks, but the Directors believe that the
Group's strong balance sheet leaves it well placed to fund future investment
plans.
Treasury
The Group maintains treasury control systems and procedures to monitor foreign
exchange, interest rates, liquidity, credit and other financial risks. Liquid
assets surplus to the immediate operating requirements of the Group are invested
and managed centrally by Group Head Office.
Exchange rates
Euro and Sterling-denominated transaction exposure arising from normal trade
flows both in respect of external or inter-company trade is not hedged against
US$ equivalents. The Group's policy is to minimise the exposure of Euro and
Sterling-operating subsidiaries to transaction risk by matching local currency
income with local currency costs. For this purpose inter-company trading
transactions are matched centrally and inter-company payment terms are managed
to reduce risk.
International Financial Reporting Standards
Celsis intends to present its 2005 interim results in accordance with
International Financial reporting Standards (IFRS). The Group is currently
conducting its analysis of the effects of IFRS on the presentation of its
results. The principal issues arising on the transition from UK GAAP to IFRS
which could have an impact on the presentation of Celsis Financial Information
are:
- Segmental analysis
- Share-based compensation
- Research and Development expenditure
- Accounting for own shares
- Lease accounting
- Deferred taxation
Celsis is well positioned to ensure compliance in the required timescale.
Financial position
Celsis' financial strategy is to maintain a robust financial position through
the rigorous control of costs and strong financial management of all aspects of
its business. This approach enables Celsis to generate sufficient cash to make
the appropriate investments in its business and also to take advantage of
external opportunities as and when these arise.
Outlook
We are pleased with the many successes of this past year and remain confident of
our future prospects. Our Product Group remains the leader in its sector and
the rate of adoption of its rapid microbial testing systems is accelerating. We
will continue to expand the depth and breadth of product range utilising our
current ATP and AK enzyme-based testing systems, and we are also spending R&D
resources toward the development of testing systems beyond these more
established technologies.
As pharmaceutical companies once again increased their spending on analytical
services, our Laboratory Group rebounded strongly in the first half and
developed solidly in the second half. Our Chemical Sciences business unit
remains robust and we are taking the necessary steps to fuel sustainable
business growth in our Biological Sciences business unit. Our Laboratory Group
is a leader in the analytical services markets in North America, the most
developed market for outsourced analytical services, and we believe that we can
sustain good growth in this market.
Looking at the Group as a whole, the markets for our products and services
continue to expand and we are confident that we can grow our top line revenues
whilst continuing to manage our cost base to deliver consistent profit growth.
We continue to utilise a disciplined approach to identify potential new business
opportunities and will focus only on opportunities that ensure long-term
shareholder value.
We would like to take this opportunity to thank all of our employees for their
many individual and combined contributions towards making this past year a
success. We also would like to thank our new and existing shareholders for
their support and continued confidence in Celsis.
Jay LeCoque, Chief Executive Officer
Jack Rowell, Non-Executive Chairman
24 May 2005
Unaudited Consolidated Profit and Loss Account
for the year ended 31 March 2005
$'000 Unaudited Audited
Year Year
to 31 March to 31 March
Notes 2005 2004
Turnover 30,397 27,595
Cost of sales (10,361) (9,449)
_____ _____
Gross profit 20,036 18,146
Sales & marketing expenses (10,241) (9,692)
Administrative expenses (3,531) (3,072)
Research & development expenditure (733) (782)
_____ _____
Total operating expenses (14,505) (13,546)
Operating profit 5,531 4,600
Interest receivable & similar income 244 263
Interest payable & similar charges (24) (35)
_____ _____
Profit on ordinary activities before taxation 5,751 4,828
Taxation 1,898 1,829
_____ _____
Profit for the year 7,649 6,657
Dividends (1,150) (966)
_____ _____
Retained profit for the year 6,499 5,691
_____ _____
Earnings per Ordinary Share
Basic earnings per Ordinary Share 2 6.83c 6.04c
Diluted earnings per share 2 6.77c 6.00c
_____ _____
Statement of Group Total Recognised Gains and Losses
for the year ended 31 March 2005
Profit for the financial year 7,649 6,657
Currency translation differences on foreign currency net 180 499
investments
_____ _____
Total gains recognised since last annual report 7,829 7,156
_____ _____
Unaudited Consolidated Balance Sheet
at 31 March 2005
$'000 Unaudited Audited
At 31 March At 31 March
Notes 2005 2004
Fixed Assets
Intangible assets 1,228 1,314
Tangible assets 4,766 4,113
_____ _____
5,994 5,427
Current Assets
Stocks 2,844 2,761
Debtors : amounts falling due after more than one year 81 152
Debtors : amounts falling due within one year 6,556 5,916
Deferred tax asset 1 5,999 3,559
Cash at bank and in hand 17,363 14,207
_____ _____
32,843 26,595
Creditors : amounts falling due within one year (5,216) (4,536)
_____ _____
Net Current Assets 27,627 22,059
Total Assets less Current Liabilities 33,621 27,486
Creditors : amounts falling due after more than one year (143) (226)
Provision for liabilities and charges (10) (51)
_____ _____
Net Assets 33,468 27,209
_____ _____
Capital and Reserves:
Called up share capital 1,611 1,611
Share premium account 13,120 23,120
Profit and loss account 6 17,255 996*
Reserve arising on consolidation 1,482 1,482
_____ _____
Equity shareholders' funds 33,468 27,209
_____ _____
* In accordance with UITF38 the ESOT of $24,000 has been reclassified from
investment to the profit and loss reserve.
Unaudited Cashflow Statement
for the year ended 31 March 2005
$'000 Unaudited Audited
Year Year
to 31 March to 31 March
Notes 2005 2004
Net cash inflow from operating activities 3 7,088 6,502
Returns on investments and servicing of finance
Interest received 244 263
Interest paid (24) (35)
_____ _____
Net cash inflow from returns on investments 220 228
and servicing of finance
Taxation
Corporation tax paid (592) (149)
_____ _____
(592) (149)
Capital expenditure
Purchase of tangible fixed assets (2,064) (1,333)
Sale of tangible fixed assets - 9
_____ _____
Net cash outflow from capital expenditure (2,064) (1,324)
Equity dividends paid (966) -
_____ _____
Cash inflow before management of liquid resources and financing 4,652 5,257
_____ _____
Management of liquid resources
Sale of short-term investments - 4,896
Financing
Issue of shares - 2,513
Expenses of shares issued - (72)
Proceeds from share options exercised - 24
Purchase of treasury shares (420) -
Repayment of principal under finance leases (135) (161)
_____ _____
Net cash outflow from financing (555) 2,304
_____ _____
Increase in cash in the period 3,130 12,457
_____ _____
Notes
for the year ended 31 March 2005
1. Deferred tax asset
$'000 Unaudited Audited
Year Year
to 31 March to 31 March
2005 2004
Amounts falling due within one year 2,050 1,500
Amounts falling due after more than one year 3,949 2,059
_____ _____
5,999 3,559
_____ _____
2. Basic & diluted profit per ordinary share
Profit on ordinary activities after taxation 7,649 6,657
Basic weighted average number of Ordinary Shares in issue 112,003,962 110,205,337
Diluted weighted average number of Ordinary Share in issue 112,904,087 111,000,910
_____ _____
3. Reconciliation of operating profit to net cash inflow from operating
activities
Operating profit 5,531 4,600
Depreciation of tangible fixed assets 1,454 1,212
Movement in provision against shares held by ESOT - (13)
Amortisation of intangible assets 88 94
Loss on disposal of tangible fixed assets - 1
(Increase)/decrease in debtors (548) 179
(Increase)/decrease in stocks (78) 352
Increase in creditors 682 128
Costs of fundamental reorganisation provided - provision expended (41) (51)
_____ _____
Net cash inflow from continuing operating activities 7,088 6,502
_____ _____
4. Reconciliation of net cash flow to movement in net funds
Increase in cash in the period 3,130 12,457
Sale of short-term investments - (4,896)
Repayment of finance lease and loan obligations 135 161
_____ _____
Changes in net funds resulting from cashflows 3,265 7,722
Exchange adjustment 30 128
_____ _____
Movement in net funds in the year 3,295 7,850
_____ _____
Net funds at the beginning of the year 13,953 6,103
_____ _____
Funds at the end of the year 17,248 13,953
_____ _____
5. Analysis of net funds
$'000 Audited Unaudited
At Foreign At
1 April exchange 31 March
2004 Cashflow differences 2005
Cash at bank and in hand 14,207 3,126 30 17,363
Bank overdrafts (4) 4 - -
Finance leases (250) 135 - (115)
_____ _____ _____ _____
13,953 3,265 30 17,248
_____ _____ _____ _____
6. Profit and loss account
Year
to 31 March
2005
At 1 April 2004 996
Retained profit for the period 6,499
Capital reorganisation 10,000
Treasury shares (420)
Exchange difference 180
_____
At 31 March 2005 17,255
_____
7. Preparation of Preliminary Statement
The foregoing financial information, which has been prepared on the basis of the
accounting policies set out in Celsis International plc's accounts for the year
to 31 March 2004, does not amount to full accounts within the meaning of section
240 of the Companies Act 1985 (as amended).
The auditors reported on the statutory accounts for the year ended 31 March
2004; their report was unqualified and did not contain a statement under either
section 237(2) or (3) of the Companies Act 1985. The statutory accounts for the
year ended 31 March 2005 will be finalised on the basis of the financial
information presented by the directors in this preliminary announcement and will
be delivered to the Registrar of Companies following the Company's Annual
General Meeting.
8. Dividend
The Directors have decided to recommend to the Annual General Meeting of
Shareholders the declaration of a dividend of 1.02 cents per share. The
dividend will be payable, subject to approval at the Annual General Meeting, on
26 August 2005 to shareholders on the register on 30 July 2005.
9. Annual Report and Accounts
Copies of the Annual Report and Accounts will be sent to holders of Celsis
International plc's Ordinary Shares. Copies of this announcement and of the
Annual Report and Accounts will be made available to the public at Celsis
International plc's offices at Suite 15, Lyndon House, Kings Court, Newmarket,
CB8 7SG, UK.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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