16 March, 2010

BIOQUELL delivers strong growth in revenues and profit in 2009

BIOQUELL PLC (LSE: BQE) – provider of specialist low temperature, residue-free bio-decontamination technologies to the healthcare, life sciences and defence sectors – announces its results for the year ended 31 December, 2009.

Financial highlights:

• Revenues: £39.2 million (2008: £34.4 million) – increase of 14%
• Export-related revenues increased 30% to £21.8 million (2008: £16.8 million) and represent 56% of total revenues (2008: 49%)
• Profit before tax: £5.9 million (2008: £5.0 million) – increase of 18%; basic earnings per share: 10.3p (2008: 9.0p) – increase of 14%
• Substantial cash on balance sheet: gross cash of £5.9 million (2008: £7.1 million); net cash of £4.4 million (2008: £5.2 million) after significant investment in facilities
• Proposed payment of a 2.42p dividend per ordinary share (2008: 2.2p) - a 10% dividend increase over previous year

BIO-DECONTAMINATION (Healthcare, Life Sciences, Defence) highlights:

• 18% increase in BIO-DECON division revenues across all three core sectors totalling £27.9 million (2008: £ 23.7 million)
• Launch of new BIOQUELL Q-10 product – incorporating a new BIOQUELL hydrogen peroxide consumable cartridge - specifically designed for the healthcare market and the eradication of “superbugs” from hospitals
• Extension of BIOQUELL’s life sciences’ product range and expansion of its international sales network
• Good progress with the United States Department of Defense JMDS contract – prototype test units in production
  TRaC highlights:
• 6% increase in TRaC revenues to £11.3 million (2008: £10.7 million) despite challenging economic environment
• Increased market share, cross-selling of services to existing clients and profitability
• New TRaC facility being established in the North West of the UK

******************************************

Commenting on the 2009 results, Nigel Keen, Chairman of BIOQUELL PLC, said:

“BIOQUELL performed well in 2009; economic conditions were not easy but the BIO-DECON division achieved a substantial 18% increase in revenues across its healthcare, life sciences and defence businesses.”

“In 2010 we anticipate increased international demand for BIOQUELL’s world class technology to combat ‘superbugs’ in hospitals”.

“The Group’s new bio-decontamination products are being configured to use single use disposable hydrogen peroxide consumable cartridges which will provide an additional and complementary revenue stream to its existing sales of capital equipment.”

“We are continuing to invest in the development and extension of the Group’s core peroxy-based bio-decontamination systems; the Group has a number of new products under development which, combined with an increasingly confident performance from TRaC, should lead to further growth.”

To read the full statement as a PDF, Click here.

 
Enquiries:

Nigel Keen    BIOQUELL PLC  01264 835900
Nick Adams
Mark Bodeker