News/announcements

Bioquell PLC Interim Report 2011

Published on 16th September 2011

Bioquell PLC (LSE: BQE) – Bioquell PLC (LSE: BQE) – provider of patented, low temperature, environmentally-friendly bio-decontamination technologies to the Healthcare, Life Sciences and Defence sectors; as well as specialist testing and compliance services in the UK via TRaC - announces its interim report for the six months period ended 30 June, 2011.

Group financial highlights:

  • 14% increase in orders in the period to £23.9 million (2010: £21.0 million)
  • 11% increase in revenues to £20.0 million (2010: £18.0 million)
  • Substantial (4x) increase in pre-tax profit to £2.0 million (2010: £0.5 million)
  • Basic earnings per share of 3.5p (2010: 1.0p)
  • Significant net cash position combined with a strong balance sheet: net cash of £4.6 million (2010: £3.4 million) and net assets of £25.3 million (2010: £22.6 million)

Bio-decontamination (Healthcare, Life Sciences, Defence) division:

  • Orders increased by 17% to £16.7 million (2010: £14.3 million)
  • Revenues increased by 13% to £13.4 million (2010: £11.9 million)
  • Seeing good opportunities for further international, organic growth across all three sectors - assisted by the continuing development of new products

TRaC (Testing, Regulatory and Compliance) division:

  • Orders increased by 7% to £7.2 million (2010: £6.7 million)
  • Revenues increased by 8% to £6.6 million (2010: £6.1 million)
  • Plans for further expansion of TRaC in the UK – in part driven by its new consulting business (ESQ)

 

Commenting on the 2011 interim results, Nigel Keen, Chairman of Bioquell PLC, said:

“The Group performed well in the first half achieving improved levels of orders, revenues and profitability.”

 “We see interesting opportunities for growth – across our core Life Sciences, Healthcare and Defence sectors - in Asia and other developing markets.”

“We continue to invest in the expansion of our international sales networks, the development of our product range and TRaC’s facilities.”

 “The Group continues to be conservatively financed with significant net cash resources and is well positioned to fund substantial levels of organic growth.”

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