14 Jan 2016 07:00
FOR IMMEDIATE RELEASE
14 January, 2016
Bioquell PLC
Pre-close statement
Bioquell PLC ("Bioquell") (LSE symbol: BQE) - provider of specialist microbiological control technologies to the international Healthcare, Life Sciences & Defence markets today announces an update on its trading performance, prior to entering the closed period ahead of the preliminary results for the year to 31 December 2015.
Trading since the release of the interim results on 26 August 2015 has remained broadly consistent with the Board's expectations.
Revenues for the year ended 31 December, 2015 are expected to be flat at approximately £27.0 million (2014: £27.3 million). Life Sciences revenues grew by 1.8%, reflecting a strong second half, which showed growth of 20% over the second half of 2014. Healthcare revenues declined by 2.2% and Defence revenues were 13.7% lower at £3.5 million. Pre-exceptional profit before tax is expected to be in line with the Board's expectations. An exceptional charge of £0.2million will be taken in the 2015 accounts to reflect headcount reductions effected in the final quarter of the year. The 2015 accounts will also include an exceptional profit of approximately £34 million associated with the sale of TRaC Global Limited which was announced on 12 March 2015.
The Company had net cash of £47.5 million at the year end.
The Strategic Review announced on 18 May, 2015 is ongoing and the Board of Bioquell PLC currently expects to draw it to a conclusion at or around the end of the first quarter of 2016. Further announcements will be made as appropriate.
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Enquiries
Nigel Keen (Chairman) Bioquell PLC 01264 835 900
Nick Adams (Chief Executive)
Michael Roller (Finance Director)
Notes to Editors
§ Bioquell is a UK-headquartered, international technology company which sells specialist biological contamination control products and services into the Healthcare, Life Sciences and Defence sectors, with most of its revenues generated from overseas customers;
§ Bioquell's bio-contamination control technology is principally based around hydrogen peroxide vapour (HPV) - which is highly efficacious at eradicating micro-organisms such as bacteria and viruses at room temperature - and is subsequently broken down using specialist catalysts to water vapour and oxygen (hence an extremely 'green' technology) at the end of the bio-decontamination process.
§ For the last three years Bioquell has invested substantial sums in developing new products - comprising rental, service and consumables - which have been designed to increase the proportion of the Group's recurring revenues (cf. capital equipment sales).
§ Bioquell's bio-contamination control technology:
o is used by bio-pharmaceutical, biotechnology and research institutions to provide sterile equipment and/or sterile facilities;
o is used to eradicate "superbugs" from hospitals including Clostridium difficile and carbapenemase producing Enterobacteriaceae (CPE) - sometimes referred to as carbapenem-resistant Enterobacteriaceae (CRE). Independent scientific research from a team at Johns Hopkins, one of America's top hospitals, has demonstrated that 'bioquelling' hospital equipment and facilities resulted in a 64% reduction in the rate of hospital acquired infection;
o is used to provide single rooms to hospitals (via its ICE-pod rental service) which currently only have open, multi-bed "Nightingale" ward structures
§ Bioquell currently has overseas operations in the USA, France, Ireland, Singapore and China.