CRX.L Regulatory News (CRX)

17 Dec 2007 07:00

Cyprotex PLC17 December 2007 17 December 2007 Trading Update : Progress in line with Expectations Cyprotex PLC ("Cyprotex") (AIM: CRX), the drug discovery technology andinformation company, announces a trading update for 2007. Cyprotex is pleased to confirm that the closing months of 2007 have progressedalong the lines intimated in Cyprotex's trading update of 12 October 2007.Revenues are expected to fall between GBP3.6m and GBP3.7m, while currentmomentum suggests further progress will be made in the financial year 2008. The final quarter of 2007 has been characterised by further expansion of theGroup's global customer base, along with the return to an excellent level ofrepeat business. Core customers continue to recognise the high level of 'value-added' within Cyprotex's proprietary ADME/Tox (Absorption, Distribution,Metabolism, and Excretion/Toxicity) screening and consultancy services. Changesin the drug discovery world over the past twelve months highlight an increasingneed by pharmaceutical majors for sophisticated and trusted outsourcingpartnerships. Against this background, management recognises the opportunityfor further significant expansion and enters the New Year on a confident note. Despite incurring the costs of defending your Group from the 'Requisitionists'during the second half of the year, management is optimistic that it will end2007 with a cash position similar to that seen at the interim stage.Importantly, Cyprotex expects to start 2008 with a total facility (cash plusunused overdraft) somewhat larger than at the same time last year. For further information:Cyprotex PLCRobert Morrisson Atwater, CEORussell Gibbs, CFOTel: +44 (0)1625 505 100ir@cyprotex.comwww.cyprotex.com Nomura Code Securities LimitedCharles Walker, Corporate FinanceTel: +44 (0)20 7776 1200cew@nomuracode.comwww.nomuracode.com Media Enquires:WMC CommunicationsAlex GloverTel: +44 (0)20 7930 9030alex.glover@wmccommunications.com This information is provided by RNS The company news service from the London Stock Exchange