Half Year Trading Update
19 Julho 2005 - 4:00AM
UK Regulatory
RNS Number:0176P
Biotrace International PLC
19 July 2005
For Immediate Release: 19 July 2005
BIOTRACE INTERNATIONAL PLC
("Biotrace", "the Company" or "the Group")
Half Year Trading Update
Biotrace International Plc (BOI.L), a leading manufacturer and supplier of
industrial microbiology and life science products, wishes to inform shareholders
that it will publish its interim results for the six months to 30 June 2005 on 7
September 2005 and provides an update on trading for the first half.
Ian Johnson, Chief Executive of Biotrace, making the following comment on
trading in the first half of the year, said:
"I am pleased to report a substantial improvement in the performance of the
Group during the first half compared with the corresponding period last year.
The enhanced financial performance, evident in the second half of 2004, is being
sustained during the first half of 2005. The restructuring and optimisation of
the Group is continuing to show benefits in operational efficiency and
productivity. Gross margins have remained consistent over the last 12 months at
the level reported in the second half of 2004 and underlying operating expenses
are reducing as we continue to implement efficiency improvements in Europe.
Sales increased in the second quarter after a slow start to the year and we are
particularly pleased that sales of hygiene products in the Americas have
recently exceeded the level previously attained through our former distributor.
We remain confident that further growth of this product line can be achieved in
the region in the second half. Additionally, the Company's range of rapid
hygiene tests has recently been awarded "Level 2" status by the UK Health
Protection Agency Rapid Review Panel for their potential to reduce healthcare
associated infections. Only 17 out of 97 products have been awarded Level 1 or
2 status (note: Levels range from 1 to 6, with 6 being the lowest level).
In 2002, the Company formed a joint venture, Biotrace SA, to establish a sales
channel for food safety products in France. The Group owns 53% of the JV and
over the last 3 years the performance of Biotrace SA has been impressive, with
sales more than doubling in this time. Biotrace is now purchasing the remaining
shares for a consideration of #0.47m. The transaction will be immediately
earnings enhancing.
Whilst the trading environment remains competitive, the Board is confident of
the Group's prospects and of further improvements in financial performance in
the second half. "
- 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
Mary-Jane Johnson / 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.
Most of the world's leading food manufacturers and catering companies rely on
Biotrace as an essential part of their quality procedures. Industrial customers
also 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. Since 1991 the Company has
manufactured and 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
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