Bank Irel13.375 Regulatory News (BOI)

20 Jul 2006 07:01

Biotrace International PLC20 July 2006 For Immediate Release: 20 July 2006 BIOTRACE INTERNATIONAL PLC ("Biotrace", "the Company" or "the Group") Half Year Trading Update Biotrace International Plc, a leading manufacturer of industrial microbiologyproducts, announces that it will publish its interim results for the six monthsended 30 June 2006 on Wednesday 6 September 2006 and provides an update ontrading. Ian Johnson, Chief Executive of Biotrace, commenting on trading in the firsthalf of the year, said: "Biotrace has made steady progress in the first half of the year laying thefoundations for a strong second half performance. MicroSafe, which was acquiredin September last year, has added significantly to Group revenues in the periodto the end of June and secured further substantial contracts for the defence andpharmaceutical divisions which will fuel further growth in the second half. "I am pleased to report modest growth in the food and environment division inthe first half, reversing the negative trend evident over the previous 12months, despite continuing tough trading conditions and increasing pricingpressures across Europe. "The Group's pharmaceutical, personal care and cosmetics division has expandedsignificantly in the period, predominantly as a result of the contribution fromMicrosafe. A stronger second half is anticipated arising from the fulfilment oforders already received for delivery in the latter half of the year. "Defence sales to the UK Ministry of Defence were lower than the correspondingperiod last year and remain difficult to predict, however, sales to overseasmilitary and homeland defence organisations continue to be more robust and willbe boosted in the second half by the recently announced order from the NATOMaintenance & Supply Agency. "Cash generation in the first half has been particularly strong with operationalcash flow enhanced by the cash generated from the sale of the HQ property andthe disposal of the Ruskinn life science business. As a result, the Group's netdebt position at the end of the half year has substantially improved. "Overall, the Board believes that the Company will perform in line with it'sfull year expectations and remains confident about the Group's futureprospects." - ENDS - For further information, please contact:Biotrace InternationalIan Johnson, Chief Executive Officer Tel : +44 (0) 1656 641 400Peter Morgan, Finance Director Buchanan CommunicationsTim Anderson/Mary-Jane Johnson 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