5 Aug 2009 07:00
PuriCore H1 2009 Trading Update
Record Food Safety Shipments
MALVERN, PENNSYLVANIA, AND STAFFORD, UK, 5 August 2009 - PuriCore (LSE: PURI), the life sciences 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, today announces a trading update covering the six months to 30 June 2009. Interim results for this period are expected to be announced on 25 August 2009.
H1 2009 highlights:
Food Safety sales of $12.6 million, an increase of 16%
Endoscopy sales of $6.1 million, a decrease of 27% (3% on a constant currency basis)
Q2 operational cashflow positive
H1 operational cash outflow of $2.7 million (H1 2008: $4.8 million)
Debt reduced $2.7 million in H1 ($1.3 million in Q2)
Post period-end developments (see separate release issued today):
Acquisition of Labcaire Systems Ltd., a leading UK supplier and manufacturer of endoscope disinfection equipment
£2 million by way of a Placing through the issue of 10,810,811 Placing Shares at an Issue Price of 18.5 pence per share
Outlook
PuriCore expects to complete the successful integration of Labcaire Systems into the business this year. The Company anticipates delivering full-year results for legacy PuriCore in line with market expectations for revenue growth and operating expenditure improvement. The Directors believe the Company is well positioned for further growth, and PuriCore will continue to make effective use of its balance sheet, including the strategic use of debt financing for leased systems.
Greg Bosch, Chief Executive of PuriCore, said:
"We remain confident that we are well-positioned to execute on our legacy PuriCore business plan and look forward to integrating the Labcaire business in the UK as announced separately today."
Enquiries:
| Ben Brewerton | Greg Bosch, CEO |
| Susan Quigley | Darren Weiss, VP of Finance |
| Financial Dynamics | PuriCore |
| +44 (0) 20 7831 3113 | +1 484 321 2700 |
About PuriCore
PuriCore plc (LSE: PURI) is a life sciences 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. PuriCore's patented, proprietary technology mimics the human body's production of the natural antimicrobial hypochlorous acid, offering a safe and non-hazardous approach to disinfection and sanitisation. The Company's products are used in a broad range of markets that depend upon controlling contamination, including food retail and foodservice, medical device disinfection, and wound care. Hypochlorous acid is 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 H5N1 Avian Influenza), Legionella, MRSA, M.tuberculosis, Norovirus, and Salmonella. PuriCore is headquartered in Malvern, Pennsylvania, with offices 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.