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Cyprotex

  • BY: Andrew Hore |
  • POSTED: 21/03/2013 |

Cyprotex believes that South Korea and Japan could be significant growth areas for the business in the future.

Continued delays with a large US contract meant that Cyprotex did not meet initial expectations for 2012 but it still made a significant second half profit. Cyprotex provides services to pharma companies that enable them to choose the compounds most likely to be effective and assess their potential toxicity. The company had already warned that November and December were weak and the second half of the year is the stronger half.

Revenues were 5% higher at 8.33m, which is in line with the first half increase, while a profit of 249,000 for 2012, down from 588,000 in 2011, represented a profit of nearly 500,000 in the second half.

Net debt was 549,000 at the end of 2012 as Cyprotex invested in new equipment - mainly on four Waters Xevo TQ mass spectrometers and a new Tecan based robotic screening platform.

Cyprotex is confident that it can continue to gain market share and it is looking outside of Europe and the US to new markets. A symposium is being held in Tokyo in April. Research spending is particularly buoyant in South Korea.

At 3.75p a share, Cyprotex is valued at 8.39m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMarch2013_42.pdf

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