24 June 2009 - Celsis International plc, the international life sciences products and laboratory services company, today announces its preliminary results for the year ended 31 March 2009.
• Group revenues sustained at $52.5 million despite challenging market conditions (2008: $52.9 million)
• Operating profit increased 17.9% to $13.2 million (2008: $11.2 million)
• EBITDA increased 13.9% to $15.6 million (2008: $13.7 million) and EBITDA margin increased to 29.7% (2008: 25.9%)
• Profit before tax increased 21.9% to $12.8 million (2008: $10.5 million) and profit before tax and amortisation increased 19.6% to $13.4 million (2008: $11.2 million)
• Group cash inflows increased to $13.7 million (2008: $12.9 million)
• Earnings per share (EPS) increased 27.8% to 41.88 cents (2008: 32.78 cents) and EPS adjusted for amortisation of intangible assets increased 25.1% to 44.57 cents per share (2008: 35.62 cents per share)
• All numbers above reflect continuing operations and all comparative 2008 numbers have been restated to reflect the prior year results of continuing operations
• Rapid Detection revenues increased 9.2% to $23.7 million (2008: $21.7 million)
Strong consumable reagent sales and healthy growth in instrument placements
Successful launch of Celsis ReACT™ RNA-based assay
• Analytical Services revenues decreased 4.7% to $18.1 million (2008: $19.0 million)
Strong recovery in H2 after 9.2% fall in H1 on continuing operations
Discontinuation of Development Services business unit significantly improves profit margins
• In Vitro Technologies revenues decreased 13.0% to $10.7 million (2008: $12.3 million)
Pharmaceutical industry consolidations impacted H2
Exclusive alliance established with leading life sciences company Promega
Jay LeCoque, Chief Executive Officer of Celsis, commented:
“I am pleased to report another year of strong profit growth in what has been a challenging economic environment. Our performance in the year ended 31st March demonstrates the underlying strength of our business model, in particular our focus on driving higher quality revenues and margins while discontinuing less profitable areas of the business.
“Celsis is a highly cash generative business and we are now even better placed to expand our product and laboratory services businesses both organically and by acquisition. With targeted investments in new technologies and in expanding our sales and marketing infrastructure, Celsis is well positioned for growth, even in a tougher economic climate.”
Celsis International plc
Celsis International plc is a leading international provider of innovative life science products and laboratory services to the pharmaceutical and consumer products industries. Each Celsis business has the capacity to deliver substantial time and cost savings to its customers, in addition to ensuring product quality and safety for consumers. Celsis’ extensive client base includes many of the world’s leading pharmaceutical and consumer products companies. The Company is listed on the London Stock Exchange’s Main Market (CEL.L).
Celsis Rapid Detection utilises proprietary enzyme technology to develop and supply diagnostic testing instruments and consumables for the rapid detection of microbial contamination in pharmaceutical and consumer products. These rapid testing systems provide significant economic value by reducing the time it takes to test and release raw materials, in process and finished goods to market.
Celsis Analytical Services provides cost effective outsourced analytical laboratory services to the pharmaceutical and consumer products industries. Its comprehensive service offerings include a full spectrum of laboratory services used in the ongoing manufacture of our customers’ products ranging from analytical chemistry and biological sciences to stability storage and testing.
Celsis In Vitro Technologies (IVT) employs proprietary expertise in hepatocyte (liver cell) technology to supply in vitro testing products to the pharmaceutical industry. IVT's consumable testing products screen drug compounds for liver toxicity early in the drug discovery process, thereby reducing the time and cost of further development or research on those compounds that will not be properly metabolised by the human liver.