The key points are as follows:
Revenue for 2007* is estimated to be £116 million. On an underlying basis, excluding the effects of foreign exchange, this means that 2007 annual revenue will be at the same level as revenue in 2006, in line with the guidance given at the time of the Company’s interim trading statement on 13 July 2007. At constant exchange rates, revenue was 16% higher in the second half of the year compared to the first half and order intake was 8% higher.
The order book at 31 December 2007 was approximately £16 million which at constant exchange rates represents a 44% increase over the order book at 31 December 2006.
All the pre-conditions required to commence the proposed share buy back programme, announced on 19 September 2007, have now been fully met. This programme will commence after the preliminary results announcement in March 2008.
The restructuring of Whatman announced as part of our strategic review on 19 September 2007 is progressing on track, with the Group currently being well placed to achieve the operational milestones for 2008 set at that time.
Kieran Murphy, CEO of Whatman, said:
“The implementation of our strategic review and the upgrades to our sales and marketing delivered real improvements resulting in much stronger trading in the second half of the year. Whilst manufacturing and supply chain issues continue to be a source of considerable management focus, the much higher order book position at the close of the year gives us good reason for cautious optimism as we enter 2008.”
*Including Biometra
A conference call for analysts will be held at 10.00am UK time today. Please call Claire Rowell at Financial Dynamics on 020 7269 7285 for details.
For further information please contact:
Whatman plc Tel: +44 1622 676670
Kieran Murphy, Chief Executive Officer
Financial Dynamics Tel: +44 20 7831 3113
David Yates / Lara Mott
Notes to Editors:
About Whatman
A global leader in separations technology, Whatman provides innovative life science products to the scientific community. Whatman has developed total sample preparation solutions through its robust line of filtration devices and membranes. The Company’s breakthrough protein array technology and FTA® Elute Technology to capture, archive and purify DNA at room temperature, enables it to provide novel solutions for the analytical, health care, and bioscience markets. For more information please visit www.whatman.com
