Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRLM.L Regulatory News (RLM)

  • There is currently no data for RLM

Interim Management Statement

26 Apr 2012 07:00

RNS Number : 1136C
PuriCore Plc
26 April 2012
 



PuriCore plc

 

Q1 2012 Interim Management Statement

Strong Revenue Growth Drives Profitability and Operational Cash Flow  

PuriCore (LSE: PURI), the water-based clean technology company, today issues its Interim Management Statement covering the period 1 January 2012 to 26 April 2012.

 

Q1 Financial Highlights (unaudited)

·; Sales up 29.2% (30.4% at constant currency) to $14.3 million (Q1 2011: $11.1 million)

§ Supermarket Retail sales up 60% to $7.4 million (Q1 2011: $4.6 million)

§ Endoscopy sales up 3% (5% at constant currency) to $6.6 million (Q1 2011: $6.4 million)

§ Wound Care sales up 218% to $0.4 million (Q1 2011: $0.1 million)

·; Operating expenses decreased 15%

·; EBITDA profitable across the company including in all business units

·; Strong operating cash flow positive

·; Cash as at 31 March 2012 of $6.3 million

 

Q1 Operational Highlights

·; Supermarket Retail: sales of approximately 420 Sterilox Fresh and FloraFresh Systems from existing and new customers

·; Endoscopy: recurring revenues up 12%, accounting for 70% of revenues; growth driven by increase spending by UK NHS

·; Wound Care: strong organic and distribution sales

·; R&D: received confirmation from the US EPA for Aqualox System to treat frac water; the University of Oxford received a £500,000 grant to study PuriCore's ActiVita Agricultural Solution from the Biotechnology and Biological Sciences Research Council (BBSRC)

 

Greg Bosch, Chief Executive Office, said:

"PuriCore delivered a robust sales performance and EBITDA profitability across the business and in each major division, which drove the Company to be operational cash flow positive for the second quarter in a row. This performance resulted from the strong order book for the US Supermarket Retail business at the start of the year, and the increased spending by the UK NHS during the quarter, typically the heaviest as it ends its fiscal year, and strong sales in Wound Care."

 

Business Report

Sales for the Company increased 29.2% to $14.2 million in the first quarter of 2012 (Q1 2011: $11.1 million), driving EBITDA profitability of each business unit. Continued robust Supermarket Retail sales drove revenues up 60%, including sales of 422 Sterilox Fresh and FloraFresh Systems in leading US national and regional retailers. The Company has installed more than 5,700 Systems in approximately 20% of the target market stores in the US and Canada. In the UK, increased NHS spending in its final fiscal quarter drove Q1 sales for this business up 3% (5% at constant currency). The strategy to increase recurring revenues, including rentals, chemistry, and consumables, continues to be successful with a 12% increase, accounting now for 70% of division sales. In the Wound Care business, sales, including distribution sales, significantly increased 218%.

 

PuriCore's continued its R&D investment in promising new applications and markets. Agriculture R&D continues for PuriCore's reformulated solution as a broad-spectrum fungicide, the Biotechnology and Biological Sciences Research Council (BBSRC) awarded a £500,000 research grant to The University of Oxford for the study of PuriCore's ActiVita Agricultural Solution. In addition, the US EPA confirmed the Aqualox System as an on-site generator of an oil and gas biocide to treat hydraulic fracturing (or frac) water.

 

PuriCore will host a conference call for investors and analysts today at 2.00 pm BST, and a recording will be available.

 

Enquiries:

FTI Consulting

 +44 (0) 20 7831 3113

Susan Quigley / Victoria Foster Mitchell

 

About PuriCore

PuriCore plc (LSE: PURI) is a water-based clean technology company focused on developing and commercialising proprietary green solutions that safely, effectively and naturally kill infectious pathogens without causing harm to human health or the environment. The Company's products are used in a broad range of markets that depend upon controlling contamination, including supermarket retail and foodservice, medical device disinfection, and wound care. The Company's technologies are proven to be safe, environmentally friendly, and fast acting against a broad range of infectious pathogens, including major public health threats of C.difficile, E.coli, HIV, Human and Animal Influenza (including H1N1 and H5N1), Legionella, MRSA, M.tuberculosis, Norovirus, and Salmonella. PuriCore is headquartered in Malvern, Pennsylvania, with operations in Stafford and Clevedon, UK.

 

To receive additional information on PuriCore, please visit our website at www.puricore.com, which does not form part of this press release.

 

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

 

All 2012 financials are unaudited.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IMSIFMATMBITMMT
Date   Source Headline
4th Jun 20144:46 pmRNSPublication of Circular
4th Jun 20147:00 amRNSSale of Endoscopy Business
14th May 20147:00 amRNSInterim Management Statement
24th Apr 20147:00 amRNSFinal Results
10th Apr 20147:00 amRNSNotice of Results
19th Feb 201411:22 amRNSBlocklisting Interim Review
18th Feb 20147:00 amRNSTrading Statement
13th Feb 20147:00 amRNSMiddle East Wound Care Marketing Agreement
7th Nov 20137:00 amRNSRe Agreement
6th Nov 20138:50 amRNSHolding(s) in Company
4th Nov 201310:03 amRNSHolding(s) in Company
1st Nov 20137:00 amRNSDirector/PDMR Shareholding
28th Oct 20137:00 amRNSInterim Management Statement
22nd Oct 20137:00 amRNSLaunches New Animal Health Wound Product NovaZo
15th Oct 20137:00 amRNSDirector Details
11th Oct 20137:00 amRNSReached agreement with Misonix
27th Sep 20137:00 amRNSValue Creation Plan Update
6th Sep 20131:58 pmRNSDirector Dealing
16th Aug 20133:24 pmRNSDirector Dealing
12th Aug 20131:59 pmRNSShare Option Grant
8th Aug 20137:00 amRNSHalf Yearly Report
2nd Aug 20137:00 amRNSBlocklisting Interim Review
17th Jul 20137:00 amRNSNotice of Results
28th Jun 20137:00 amRNSTotal Voting Rights
26th Jun 201311:19 amRNSResult of AGM
20th Jun 20137:00 amRNSPuriCore signs $13.5 million US deal
19th Jun 20131:16 pmRNSAGM Update
11th Jun 20133:08 pmRNSHolding(s) in Company
11th Jun 20133:06 pmRNSHolding(s) in Company
5th Jun 20131:13 pmRNSHolding(s) in Company - Replacement
5th Jun 20131:10 pmRNSHolding(s) in Company - Replacement
4th Jun 20133:04 pmRNSHolding(s) in Company
4th Jun 20133:01 pmRNSHolding(s) in Company
17th May 20137:46 amRNSInterim Management Statement
14th May 20137:00 amRNSBoard Changes
2nd May 20137:00 amRNSShare Option Grant
1st May 20137:00 amRNSTotal Voting Rights
30th Apr 20137:00 amRNSFinal Results
17th Apr 20131:57 pmRNSNotice of Results
8th Apr 20137:00 amRNSPuriCore Signs Major US Deal
3rd Apr 20137:00 amRNSPuriCore Signs Vashe Marketing Agreement
7th Mar 20137:00 amRNSTrading Update
6th Mar 20137:00 amRNSPuriCore Partners with Onset Dermatologics
5th Mar 20137:00 amRNSBoard and Organisational Changes
15th Feb 20135:20 pmRNSBlocklisting Interim Review
14th Feb 20137:00 amRNSFDA 510(k) Clearance
12th Feb 20136:01 pmRNSShare Option Grant and Blocklisting Update
7th Feb 20135:39 pmRNSApplication for Blocklisting
1st Feb 20134:40 pmRNSSecond Price Monitoring Extn
1st Feb 20134:35 pmRNSPrice Monitoring Extension

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.