Tepnel announces interim results for 6 months ended 30 June 2008
Manchester, UK, Stamford, USA, 31 July 2008: Tepnel Life Sciences plc (AIM: TED), the international Molecular Diagnostics and Research Products and Services Group, announces interim results for the 6 month period ended 30 June 2008.
“Tepnel continues to deliver very strong revenue and operating profit growth across its entire business. Our new purpose built, state-of-the-art pharmaceutical services facility, along with our recently launched Biopharmaceutical and Genotyping services, have been a great success with strong customer demand. Additionally, Tepnel’s immunological products are showing good growth and have now begun to penetrate worldwide markets. Tepnel’s Molecular Diagnostics division also continues to exhibit strong growth led by our LifeMatch range of products and our Elucigene CF and QST*R genetic tests“ stated Ben Matzilevich, Tepnel’s Chief Executive Officer. “We believe Tepnel is very well positioned for future growth bolstered by a growing menu of novel molecular diagnostic products and demand for our advanced pharmaceutical outsourcing services. Our strong H1 performance and positive outlook are testament to the loyalty, commitment and dedication of Tepnel’s staff and shareholders alike.”
2008 Highlights
- Revenue increased to £11.8m from £8.8m, an increase of 34% compared to the prior period and 29% on a constant currency basis
- Gross profit increased 34% to £6.9m compared to £5.1m in 2007
- An increase of 149% in operating profit to £1.5m from £0.6m in 2007
- EBITDA increased 118% to £1.9m from £0.9m in 2007
- Operating cash inflow increased to £1.5m from a cash outflow of £0.2m in 2007
- Tepnel continues to deliver significant and sustained growth in both revenue and operating profit across both divisions in line with its strategic and operational plans:
- Research Products and Services revenue increased by 28% driven by the strong
demand for its pharmaceutical outsourcing services from its new state-of-the-art facility
in Livingston and newly introduced Biopharmaceutical and Genotyping service lines
- Molecular Diagnostics revenue increased by 39% driven by the Transplant
Diagnostics business line. The LifeMatch range of products continued to show strong
growth compared to the prior period
Continuing operations
|
6 months ended 30 June 2008 £’000
|
6 months ended 30 June 2007 £’000
|
Change
|
Group revenue
|
11,770
|
8,767
|
+34%
|
EBITDA
|
1,899
|
873
|
+118%
|
Operating profit
|
1,501
|
603
|
+149%
|
Profit after tax
|
1,386
|
620
|
+123%
|
Operating cash inflow/(outflow)
|
1,534
|
(193)
|
+£1.7m
|
Basic EPS
|
0.60p
|
0.27p
|
+123%
|
