2nd Dec 2015 09:03
LONDON (Alliance News) - Microsaic Systems PLC on Wednesday said it has appointed a new chief executive as it said trading in the second half of 2015 has recovered after a tough first.
The company, which makes chip-based scientific instruments, said its trading in the second half since end June has improved against the first half, and it expects unit sales for its 4000 MID miniaturised mass spectrometer to be substantially higher in the second half compared to the first.
Consumable revenue in the second half also has improved, and the company expects this to increase year-on-year in 2015.
Microsaic said it has continued to focus on its cost base and has identified cost savings to be made in the business, which it will pursue in the next six months.
Separately, Microsaic said Jim Ramage, a non-executive director of the company since 2010, has been appointed chief executive. He will replace Colin Jump, who will leave the company at the end of January 2016.
The company also said it has appointed Chief Operating Officer Glenn Tracey to the board.
Shares in Microsaic were up 2.1% to 24.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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