August 30, 2007 - Interim results for the six months to 30 June 2007
Cyprotex PLC (LSE:CRX), the drug discovery technology and information company, today reports its Interim Results for the half year ended 30 June 2007.
• Despite experiencing the disruptive effects of two major and exceptional events during the first six months of 2007, the Group reports a year-on-year revenue improvement, whilst its customer base expanded at a record level.
• Revenues for the period increased approximately 4% to £1.69m (1H 2006: £1.62m).
• Gross Profits rose by 1.6% to £1.44m (1H 2006: £1.41m).
• A Requisition to unseat present management and, for unconnected reasons, internal reorganisation of the Group’s single largest customer, hindered progress during the second quarter. Lost momentum is now being recaptured.
• Management reiterates its confidence in Cyprotex’ business activity, its global market opportunity and the real value of its unique technologies, whilst retaining adequate cash resources and facilities.
Commenting on the results, Robert Morrisson Atwater, Chairman and Chief Executive Officer of Cyprotex PLC, said: “The market opportunity for Cyprotex’s unique technologies is clear. We are confident of growing the Company’s revenue in the second half of 2007, regaining some of the momentum lost in the first half of the year”.
For further information:
Robert Morrison Atwater, Chief Executive Officer
Tel: +44 1625 505 100
Russell Gibbs, Chief Financial Officer
Noumura Code Securities Limited
Tel: +44 20 7776 1206
MC Communications Limited
Tel: +44 20 7930 9030