DUBLIN, IRELAND--(Marketwire - September 11, 2007) -
Alltracel Pharmaceuticals plc
- Alltracel announces interim results for the six months ended
June 30th, 2007 -
- Significant improvement in profitability, EBITDA
up to EUR592k versus EUR360k in H1 2006 -
- Gross margin increased to 40% versus 36% in H1 06 -
- Continued strong oral care trading and acquisition of Synpart AG
(post the period end)-
- Technology development progress in Cardiovascular Health and
Nanotechnology sectors -
September 11, 2007: London, UK & Dublin, Ireland
Alltracel Pharmaceuticals Plc., ("Alltracel "), (AIM:AP.L), the Healthcare
Innovation Group focused on the Oral Care, Wound Care, Cardiovascular
Health and Dermal Health markets, today announces interim financial
results for the six months ended June 30th, 2007.
2007 First Half (H1 2007) Financial Highlights: Last years profitability
growth continues into the first half of 2007.
* Operating profit of EUR387k versus EUR71k in H1 2006
* EBITDA of EUR592k versus EUR360k in H1 2006
* Gross margin increased to 40% versus 36% in H1 2006
* Revenue of EUR10.1M versus EUR9.5M in H1 2006
* Closing cash balance of EUR2.3M
Summary Commentary
Commenting on the company's half year performance and recent developments, Chief
Executive Officer, Tony Richardson said:
"The first half of 2007 has seen significant developments in trading
profitability, scientific and commercial breakthroughs and significant M&A
activity.
The profitability momentum achieved throughout last year has continued into this
half year with all measures of profitability improving versus last year. This is
attributable to generating higher margin sales revenues from the licensing and
exploitation of technological know how through partnership arrangements.
Post the period end we announced on 31st August 2007 the acquisition of Synpart
AG. We plan to integrate this acquisition with our existing specialist oral care
division Westone and our consumer wound care business of m.docTM to form Synpart
Limited, a specialist consumer products division. Once established, Synpart
Limited will be the leading Sourcing & Development Partner for private label and
proprietary brands in the European specialist oral care and wound care markets
and will have a particular focus on technological innovation serviced by the
recently established division, Alltracel Healthcare Services.
Our nanotechnology subsidiary Nanopeutics s.r.o continues to make encouraging
scientific and commercial progress with previously announced breakthroughs in
the professional and military markets. The concept development nanotechnology
partnership with a global leader in professional wound care has now been
officially extended following the successful conclusion of the first agreed
stage. The revenue license deal with HemCon Medical Technologies, Inc., the
haemorrhage control market leaders in military markets, is also progressing well
and we remain on schedule for the market introduction of the resultant
Chitosan-NanospiderTM technology in 2008. We will update the market on these two
significant collaborations as appropriate.
Also partnership discussions are advancing with market leading potential
partners in the consumer and industrial woundcare sectors incorporating
nano-m.docTM.
Following formulation breakthrough on our patented bioactive technology for the
Cardiovascular Health sector and subsequent development of a number of exciting
novel delivery formats, we have formally extended partnership discussions to a
number of new large scale potential partners. These partners now include Irish
based global leaders in the functional ingredients and finished food markets. We
remain on schedule and will update the market by year end.
PhytopeuticsTM - Dermal Health Solutions for Cosmeceuticals - is progressing in
its six month co-funded product development programme and we expect to make
further announcements on this in the fourth quarter.
Our priority for the remainder of the year will be to integrate the recent
acquisition and focus on driving increased profitable revenue growth across the
Group. However we will also consider additional appropriate earnings enhancing
bolt-on acquisitions within our core specialties.
We remain confident in the outlook for the full year, and believe the new
enlarged company is well positioned within each of the sectors that we operate."
Cautionary Statement Regarding Forward-Looking Statements
This announcement contains forward-looking statements. We have based these
forward-looking statements on our current plans, expectations and projections
about future events. Words like; "intend", "expect", "seek", "will", "plan",
"could", "may", and similar expressions often identify forward-looking
statements but are not the only ways of doing so. Forward-looking statements
involve inherent risks and uncertainties arising from factors outside of our
control, such as; financial conditions, regulatory developments, technological
developments, activities of our competitors and other factors. We caution you
that such factors may cause actual results to materially differ from those
contained in forward-looking statements. The forward-looking statements are made
only as of the date of this announcement and we do not intend, except as
required by law, to update any forward-looking statements to reflect new
information or subsequent events or circumstances.
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