We are pleased to report strong revenue and profit growth for the first half ended 30 September 2007. Total Group revenue increased 31% to $26.3 million (H1 2006: $20.1 million), with organic business growth up 8% to $19.7 million (H1 2006: $18.2 million), and our new In Vitro Technologies (IVT) division contributing $6.6 million of revenues for the full six months.
The Group has made good progress in the first half of the year, with all divisions now fully contributing to this reporting period. EBITDA increased 23% to $5.8 million (H1 2006: $4.7 million) and operating profits increased 19% to $4.6 million (H1 2006: $3.8 million). Profit before tax was up 6.1% to $4.2 million (H1 2006: $4.0 million) and basic earnings per share increased 15% to 14.02c (H1 2006: 12.22c), both being impacted by interest variance due to the shift between interest receivable last year and interest payable this year. We have continued with our plan to accelerate repayment of the loan utilised for the IVT acquisition.
Our Rapid Detection division recovered strongly from last year’s brief slow down in instrument sales due to industry consolidation and also experienced healthy growth in our reagents and consumables business. Our Analytical Services division delivered a solid first half across the business while consolidating the exceptional 35% revenue increase experienced from last year’s first half. As previously reported, we also managed the unexpected wind down of a large contract in our New Jersey Chemistry business and have made plans to cover this shortfall accordingly in the second half. Our IVT division had a strong first half following our recent integration activities and we remain optimistic about the current and future potential of this new business.
Celsis continues to focus on providing products and services which improve the quality levels and efficiencies of our customers’ products and operations. Each Celsis division delivers market accelerating solutions to its customers that not only save time and money but also help ensure enhanced product quality and safety. An increasing number of businesses concentrate on speed to market as an indicator of their success, from drug discovery and development to streamlined manufacturing and continuous quality improvement. Celsis continues to benefit from these positive changes as more companies recognise the value of our technologies and services. Celsis intends to remain well positioned to help these companies continue to succeed and we therefore expect healthy and sustainable business growth across the Company and remain confident in our ability to deliver a strong year end performance.
31 October 2007
Jay LeCoque
President &
Chief Executive Officer |
Jack Rowell
Non-Executive Chairman |
Please contact Jenny
Woolway at jwoolway@celsis.com
for corporate information.
Celsis International plc
1010 Cambourne Business Park
Cambourne
Cambridge
CB23 6DP
United Kingdom
