14th Aug 2007 07:00
Celsis International PLC14 August 2007 CELSIS INTERNATIONAL PLC ("Celsis", "the Company" or "the Group") Interim Management Statement 14 August 2007: Celsis International plc, the life sciences products andlaboratory services company, today provides its first Interim ManagementStatement for the quarter ended 30 June 2007, as required by the UK ListingAuthority's Disclosure and Transparency Rules. The Group has seen a strong start to the year and is in line with the Board'sexpectations. Each division of Celsis continues to perform well and coremarkets in all of these areas remain robust. The Analytical Services division, which provides outsourced laboratory testingservices, has seen a good first quarter across all segments of this business.The order book remains strong and this division is well placed to continue todeliver further solid revenue growth as the markets for our products andservices continue to expand. The Rapid Detection division, which provides testing systems to more rapidlydetect microbial contamination, is building strength with instrument salesincreasing and reagent sales remaining strong. Celsis anticipates that thisdivision's new nucleic acid-based testing systems will start to be tested bycustomers as part of its product development activity by the calendar year end. The integration of the In Vitro Technologies division (IVT), which helpsaccelerate drug development by providing in vitro testing products anddevelopment services, remains on track. Celsis has seen solid growth from thisbusiness during the first quarter of the year and is confident that this willcontinue. The IVT service business, Development Services, is now fully managedby the Analytical Services division and focus in this area will be maintained tomaximise cross selling opportunities and synergies. The Group's strong financial position has recently been helped by an acceleratedpayment of $2.2 million in June 2007 which reduces Celsis' remaining bank loan,from the acquisition of In Vitro Technologies, to $7.5 million. Celsis willcontinue to invest in its existing and new business areas as well as identifyingnew opportunities beyond its current product and service offerings. Overall, the Group has seen a very encouraging first quarter and the Board ishighly satisfied with the Company's progress to date and looks forward to a goodfirst half year. Enquiries: Celsis International plc Tel: 01223 598 428Jay LeCoque, Chief Executive OfficerJenny Parsons, Corporate Communications Financial Dynamics Tel: 020 7831 3113Ben AtwellDavid Yates Notes to editors Celsis International plc Celsis International plc is a world leading provider of innovative life scienceproducts and laboratory services to the pharmaceutical, biopharmaceutical, andconsumer products industries through its three business areas; rapid detection,analytical and drug development services and ADME-Tox in vitro technologies.The company is listed on the London Stock Exchange (CEL.L). Each division of Celsis International plc has the capacity to deliversubstantial time and cost savings to its customers, in addition to ensuringproduct quality and safety for consumers. Using proprietary technology, theCelsis Rapid Detection division provides diagnostic systems for the rapiddetection of contamination. These systems provide significant economic value byreducing the time it takes to test and release raw materials, in process andfinished goods to market. Celsis Analytical Services division provides costeffective outsourced laboratory testing services to pharmaceutical andbiopharmaceutical companies. Its comprehensive service offerings include a fullspectrum of laboratory services from drug development and discovery toanalytical chemistry and biological sciences to stability storage and testing.Celsis In Vitro Technologies (Celsis IVT) supplies in vitro testing products tothe pharmaceutical and biotechnology industries. IVT's in vitro products screendrug compounds early in the discovery process, thereby reducing the time andcost of drug development. Further information can be found on its website at www.celsis.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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