Bank Irel13.375 Regulatory News (BOI)

11 May 2006 07:01

Biotrace International PLC11 May 2006 For Immediate Release 11 May 2006 BIOTRACE INTERNATIONAL PLC ("Biotrace", "the Company" or "the Group") AGM Statement Biotrace International Plc, a leading manufacturer of industrial microbiologyproducts, will hold its Annual General Meeting today in Bridgend at 10:30am. Mr Terry Clements, Chairman of Biotrace will read the following statement withregard to current trading to those present at the meeting. "Good progress was made in 2005 as the Group continued to consolidate itsposition as a leading company in the industrial microbiology market. We havemade a positive start to 2006 with the contribution of MicroSafe, which wasacquired in September last year, adding significantly to the Group revenues.Although it is early in the year we are also encouraged by the progress made ingrowing our underlying sales (through what in particular?). Other majorinitiatives announced in the first quarter of 2006 included the disposal ofRuskinn Life Sciences and the sale of the Group's HQ property in Bridgend.These transactions combined raised approximately £1.7 million in cash for theGroup and crystallised a gain of approximately £0.5 million. At the beginning of 2006 we signed a global agreement with Pall Corporation toexpand sales of air monitoring products to the Pharmaceutical market. Thiscollaboration is proceeding well and is enhancing our presence with the majorpharmaceutical companies and accelerating the sales of Ascotec products. InMarch we acquired the remaining shares of Target Diagnostica srl in Italycompleting our distribution organisation for the Italian market. Separately this morning we have announced that Biotrace has been awarded asignificant new defence contract by NATO's Maintenance and Supply Agency worth£1.2 million, which will add to 2006 revenues. Overall the Company is performing in line with our expectations and we remainconfident about the Group's future prospects." - ENDS - For further information, please contact:Biotrace International PlcIan Johnson, Chief Executive Officer Tel : +44 (0) 1656 641 400Peter Morgan, Finance Director Buchanan CommunicationsTim Anderson / James Strong Tel: +44 (0)20 7466 5000 Notes to editors: Biotrace International Plc is a leading manufacturer and supplier of industrialmicrobiology products. The Company is organised into three business segments:Food & Environmental, Pharmaceutical, Personal Care & Cosmetics and Defence.The Group's proprietary technologies are used by most of the world's leadingfood and beverage manufacturers who rely on Biotrace products as an essentialpart of their quality control procedures. Other industrial customers includepharmaceutical and personal care product/cosmetics manufacturers together withenvironmental/industrial process water clients. The Defence segment providessystems and consumables for the rapid detection of biological weapons formilitary and homeland security organisations. Formed in 1988 and floated on the London Stock Exchange in 1993, Biotrace hadtotal revenues of over £29 million in 2005. The Company is headquartered inBridgend, UK with manufacturing and sales operations worldwide. Visit Biotraceat www.biotrace.com This information is provided by RNS The company news service from the London Stock Exchange