biz.yahoo.com
March 7 /PRNewswire/ -- Genetix Group plc, the genomics and proteomics technology group, today announces its preliminary financial results for the year ended 31 December 2000.
Financial Highlights
* Sales 10.7 million pounds sterling (1999: 7.3 million), up 46%
* Pre-tax profit 3.6 million pounds (1999: 3.2 million), up 13% excluding
flotation costs and goodwill
* Operating margin 33% (1999: 43%) reflecting increased investment in R&D,
sales and marketing, and the costs of being a public limited company
* Earnings per share 4.17 pence (1999: 3.71 pence), up 12.4%
* Successful listing on the London Stock Exchange in November raised
18.4 million pounds (net of expenses)
Operational Highlights
* Acquisition and integration of Genpak, boosting reagents business
* Successful launch of new QArray and MegaPix
* R&D boosted to 24 staff from 8, representing 7% of Group sales
* Continued expansion of worldwide sales and marketing, with new office
established on US West Coast; next targets US East Coast, China, Germany
* Negotiations underway for new distributorships in Spain, Italy and
Israel
* Strengthening of Board with appointments of James Cochrane and Dr. James
Hill
Mark Reid, Chief Executive, commented:
"Genetix enjoyed a watershed year in 2000 with our successful listing on
the London Stock Exchange, the acquisition of Genpak and continued roll
out of new products. We are already delivering on the promises made at
flotation by boosting our worldwide sales and marketing infrastructure and
investing in R&D to keep Genetix at the forefront of the fast-changing
biotechnology industry. Strong order books and the prospect of continued
innovative product launches give us every confidence for 2001."
Notes:
Genetix Group PLC is based in New Milton, Hampshire, UK. It develops, manufactures and markets high-throughput equipment and related items used for research into animal and plant genomics and proteomics. It currently supplies equipment to more than 150 customers world-wide in the pharmaceutical, agricultural and food industries including GlaxoSmithKline, AstraZeneca, Novartis, Celera Genomics, Millennium Pharmaceuticals and the Max Planck Institutes.
Its main products include QBot, its largest capacity robot used in the ordering of DNA, a process necessary for screening, sequencing and gene expression studies; QPix, a smaller, bench-top version of the QBot; QArray, a high performance bench-top micro-arrayer, capable of high-speed production of biochips used to carry out a full range of tests with only a tiny sample of genetic material; QFill2, which automates the filling of microtitre plates, which have superseded test tubes in research for the containment and storage of samples.... |
