12th Oct 2007 07:00
Cyprotex PLC12 October 2007 Cyprotex PLC (the "Group" or "Cyprotex") NEWS 12 October 2007 Trading Update : Building Confidence The Director's confidence with Cyprotex's core operations continued to buildduring the third quarter of 2007. The Group enters the final three months ofits year on an optimistic note. Historically the final quarter has been the strongest period of Cyprotex'sfinancial year. Moreover, management is pleased to confirm that its customerbase has continued to expand rapidly. Included within the high number of newMSA (Master Services Agreements) recently signed, and taking the Group's 'activecustomer list' beyond 150 pharmaceutical and biotech companies, are severalinternational majors. Strict confidentiality agreements preclude Cyprotex fromnaming individual clients, but the company can now confirm it is currentlycontracted to work for six out of the world's 'top ten' global pharmaceuticalcompanies. The scale and visibility that strong working relationships with suchpartners are capable of providing, is key to proving Cyprotex's business plan.The management is pleased to report an exceptional level of repeat business,while also being asked to tenders for more long-term contract work as well asproject specific collaborations. Cyprotex presently holds an adequate cash resource whilst also retaining asignificant, unused banking facility. Based on current momentum, managementsees the opportunity for modest cash generation to expand this 'cushion' stillfurther during the final three months of the 2007. For further information: Cyprotex PLCRobert Morrison Atwater, CEORussell Gibbs, CFOTel: +44 (0)1625 505 [email protected] Numura Code Securities LimitedCharles Walker, Corporate FinanceTel: +44 (0)20 7776 [email protected] Media Enquires: WMC CommunicationsSimon MillerTel: +44 (0)20 7930 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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