• Revenue increased over 100% to £2.12 million from £1.05 million
• Gross profits more than doubled to £1.7 million up from £0.8 million
• Gross margins rose to 80%, compared with 76%
• Cash resources were carefully guarded. Year end net cash amounted to £1.84m, compared with £0.49m for the previous year, despite significant capital investment in new laboratory capabilities
• Basic loss per share almost halved to 1.04p compared with 2.05p
• The customer base, ranging from global pharmaceutical groups to the smallest biotechnology companies, continued to expand rapidly; the largest of which contributed less than 14% of total revenues in 2004

Commenting on the results, Robert Morrisson Atwater, Chairman and Chief Executive Officer of Cyprotex PLC, said:

"2005 has started strongly.

Recognising the continued expansion of its core customer base and the extent of repeat/longer-term contracts, Cyprotex expects to significantly outpace the underlying growth of its sector again in 2005.

Despite a major expansion of its operational facilities during 2004, management has continued to carefully guard its cash resources. Cyprotex expects to find itself moving cash flow positive, on a monthly basis, in 2005. Existing operations are now considered to have sufficient resources to fund their own expansion going forward."

Download Cyprotex Preliminary Results for year ended 31 December 2004