New Milton, UK, 6 August 2009 – Genetix Group plc (AIM:GTX) (“Genetix” or the “Group”), the cell imaging and analysis company, today announces its unaudited interim financial results for the six months ended 30 June 2009.
Highlights
• Balanced portfolio proving resilient to current economic conditions
• Reported revenue up 14% to £14.1 million (June 2008: £12.4 million)
• Underlying operating profit* up 24% to £1.2 million (June 2008: £1.0 million)
• Underlying earnings per share* up 6% to 1.60 pence (June 2008: 1.51 pence)
• Cash from operations £2.3 million, up 100% (June 2008: £1.2 million)
• Cash of £13.5 million at 30 June 2009
• SlidePath acquisition showing encouraging early results
• Interim dividend of 0.22 pence per share up 10% (June 2008: 0.2 pence per share)
Statutory Financial performance
• Operating profit £1.9 million (June 2008: £0.8 million), up 142%
• Profit before tax £1.9 million (June 2008: £1.1 million), up 74%
• Earnings per share 2.23 pence (June 2008: 1.30 pence), up 72%
* Underlying performance excludes unrealised amounts arising from fair value changes on forward foreign exchange contracts and adjustments to acquired intangibles and goodwill. Unless specified otherwise, all references to underlying gross margins, underlying operating profit, underlying profit before tax and underlying earnings per share throughout this announcement excludes unrealised amounts arising from fair value changes on forward foreign exchange contracts and adjustments to acquired intangibles and goodwill. See note 1.
Charles de Rohan, Chief Executive of Genetix, commented: “The Group’s business continues to demonstrate its underlying strength by delivering robust growth in revenues, profitability & cash generation despite challenging market conditions. Careful management of costs and investment discipline, combined with the cost and efficiency benefits of our product range, have underpinned the resilience of the business in the current economic environment and the Board is pleased to increase the interim dividend.
“The recent acquisition of SlidePath demonstrates our increasing focus on the highly promising Digital Pathology market. The Group’s balance sheet remains strong, with cash of £13.5 million, allowing us to continue to seek other suitable acquisition opportunities that enhance our strengths.”
About Genetix Group plc
Headquartered in New Milton, UK, with offices in the UK, US, Germany, Ireland and Japan, and quoted on the AIM (GTX: AIM), Genetix provides scientists and clinicians with unrivalled solutions for imaging and intelligent image analysis in the life science and diagnostic markets.
In life sciences, the Group’s systems set industry standards for accurate screening and selection of mammalian secretory cell lines. Other systems evaluate the response of cells to potential therapeutic agents and quantify tissue biomarkers. In diagnostics, Genetix holds a leading position in genetic testing with thousands of the Group’s platforms used in laboratories worldwide.
Through its expertise in robotics, cell and molecular biology, image analysis and interpretation, supported by a strong IP portfolio, Genetix is committed to the continual development of innovative solutions.
