PapalPower
- 30 Aug 2005 09:25
Web Site :
http://www.biotrace.co.uk/
Company Fact Sheet :
http://www.biotrace.co.uk/uploads/documents/135.pdf
http://news.ft.com/cms/s/dd75f814-c0a3-11da-9419-0000779e2340.html
John Lee: A fine month to reel them in By John Lee Published: March 31 2006
""""Finally to Marchs new find industrial microbiology products manufacturer Biotrace International a rare Welsh stock.
I was surprised to discover this solid quality niche business in the attractive growth sector of equipment for the rapid testing of microbial contamination in the food/beverage industry, also operating in the defence field, and planning to expand into pharmaceuticals and personal care products on a prospective price/earnings ratio only just in double figures.
Further research revealed it to be cash generative, with good gross margins, and with substantially recurring revenues. Additionally the recent results statement generated optimism and the tie-up with the large US filtration company Pall Corporation augurs well.
In the past Biotrace clearly traded on a much higher rating but had drifted to what I judged to be an attractive level. Thus I have been recently buying between 87p and 97p in a fairly tight market its market capitalisation is just less than 40m. Despite a lowish yield, this is one to tuck away in my Peps and Isas. """""
Latest Broker Forecasts :
Rowan Dartington 18th Apr 2006 HOLD
2006 Pre Tax Profit 4.4M
2006 EPS 7.27p
2006 Div 1.7p
2007 Pre Tax Profit 4.8M
2007 EPS 7.98p
2007 DIV 1.85p
Teather and Greenwood 4th April 2006 HOLD
2006 Pre Tax Profit 4.5M
2006 EPS 8.1p
2006 Div 1.9p
2007 PTP
2007 EPS
207 DIV
Numis 31st March 2006 BUY
2006 Pre Tax Profit 4.1M
2006 EPS 8.5p
2006 DIV 1.7p
2007 Pre Tax Profit 5.2M
2007 EPS 9.7p
2007 DIV 1.8p
PapalPower
- 30 Aug 2005 10:40
- 2 of 37
Looks ready for good results and positive statement at the 7th September interims.
PapalPower
- 30 Aug 2005 13:33
- 3 of 37
Some action today gives an MM buy.
PapalPower
- 31 Aug 2005 07:37
- 4 of 37
The BBull site gives a buy if today, and we have an abandoned baby BOI on the candlesticks...............
'The last three candlesticks formed a Bullish Abandoned Baby Pattern . This is a bullish reversal pattern that marks a potential change in trend. Though it is highly reliable confirmation is still recommended.'
PapalPower
- 31 Aug 2005 09:52
- 5 of 37
With the EU and US regulations pending additional sales of the new Tecra kits should have been good so far and for the rest of the year.
http://www.foodproductiondaily.com/news/ng.asp?id=60234
PapalPower
- 31 Aug 2005 10:57
- 6 of 37
2 things not picked up on much are the new products for hygiene testing, very much a topic of the day with MRSA and all the other nasties.
http://www.hpa.org.uk/infections/topics_az/rapid_review/pdf_june_05/RRS170_biotrace_protein.pdf
http://www.hpa.org.uk/infections/topics_az/rapid_review/pdf_june_05/RRS159_biotrace_atp.pdf
Department of Health says both have potential value and need to move to in house trials which was back in May so an update on these will be in the pipeline.
PapalPower
- 02 Sep 2005 07:14
- 7 of 37
Nearly all buys coming in and with only 6 more trading days to results we should see more buying volume come in. Biotrace has not really moved despite a good trading statement and broker upgrades so it has plenty of room for upward movement on some confidence boosting results with good profits.
PapalPower
- 03 Sep 2005 09:27
- 8 of 37
Teather and Greenwood reiterated their buy stance and forecasts on the 31st of August and Noumra has a new update but its embargoed due to results this coming week.
Should be looking for interim EPS of 3p and over for the first 6 months and an interim dividend of 0.25p to 0.4p per share payable to all holders on the books at around the 20th September is my opinion.
The present pr PER is low at 11 where the sector average is 19, so with Numis having a target of 115p I think there is more it can go from there given the good financial situation and the cash generation (a full 19 PER on pr EPS of 8p for 2006 would be a price of 152p now)
PapalPower
- 04 Sep 2005 10:57
- 9 of 37
As I have been mentioning FTO has a high PER but this is ok as PEG is low, if you look at BOI then both PER and PEG are low, so a decent rise on BOI would not put this as overvalued in my opinion as presently it is undervalued.
PapalPower
- 06 Sep 2005 17:30
- 10 of 37
Nicely set for tomorrows results with a last little shake, the results should be extremely positive.
PapalPower
- 07 Sep 2005 07:10
- 11 of 37
Good news all round and strong going forward.
Biotrace International PLC
07 September 2005
For Immediate Release 7 September 2005
BIOTRACE INTERNATIONAL PLC
('Biotrace', 'the Company' or 'the Group')
INTERIM RESULTS
for the six months ended 30 June 2005
and
ACQUISITION OF LEADING EUROPEAN MICROBIOLOGY GROUP
Biotrace International Plc a leading manufacturer of industrial microbiology and life science products and services, today announces its interim results for the six months ended 30 June 2005. Also today Biotrace announces the acquisition of the MicroSafe Group ('MicroSafe') a leading supplier of microbiology products to food, pharmaceutical and defence sectors based in Italy.
Highlights
Financial
Revenue up 9% to 13.6M (2004: 12.5M)
Pre-tax profit up 43% to 1.4M (2004: 1M)
Operating profits up 58% on corresponding period last year
Gross margins remain robust at 53%
Earnings per share up 40% to 2.40p (2004: 1.72p)
Interim dividend increased to 0.40p (2004: 0.25p)
Operational
Executive management team strengthened with the appointment of a Group
Operations Director
Health Protection Agency award for rapid hygiene kits which, with the
growing incidence of hospital acquired infections, are being used to
assess hospital cleanliness and surgical instrument cleanliness
Purchase of remaining shares in French JV, Biotrace SA
Acquisition of MicroSafe for 2.5M
- Expands pharmaceutical, defence and food customer base
- Anticipated to double revenues from pharmaceutical and
defence sectors by broadening product offering
- Recurring revenue business model - 80% of turnover from
consumable products
- Earnings enhancing in first full year of operations
Commenting, Terry Clements, Non-executive Chairman of Biotrace, said:
'I am pleased to report a substantial improvement in financial performance of
the Group for the first half of the year compared with the corresponding period
last year. The margin improvement seen in the second half of last year has been sustained at 53% whilst revenues continue to grow, benefiting from the
contribution from Tecra, acquired in June last year.
'The Company is making good progress and as announced today with the acquisition of MicroSafe, management is continuing to broaden the business base and build scale in developing a world class sales channel for industrial diagnostics by internal growth and appropriate acquisitions. Whilst our markets remain competitive, the Board is confident that this improvement in financial performance will continue in the second half of the year.'
Further information:
Biotrace International Plc on the day tel: +44 (0) 207 466 5000
Ian Johnson, Chief Executive Officer thereafter tel: +44 (0) 1656 641 492
Peter Morgan, Finance Director
Buchanan Communications tel: +44 (0) 207 466 5000
Tim Anderson/James Strong/Mary Jane Johnson
BIOTRACE INTERNATIONAL PLC
ANNOUNCES INTERIM RESULTS
for the six months ended 30 June 2005
Overview:
There has been a significant improvement in the financial performance of the
Group in the first half of 2005 compared with the corresponding period last
year, with sales up 9% to 13.6M and pre tax profits up 43% to 1.4M. We have
maintained our strong margins at 53% following the improvement seen in the
second half of the last year when margins increased from 48% to 53%. Now with
the integration of Tecra complete and greater operational efficiency we have
seen a 58% improvement in operating profits and net margins up from 7.7% to 10%.
With the acquisition of MicroSafe announced today, we have enhanced our product
line and further expanded our sales resource. This acquisition will expand the
business base and provide the Group with greater scale in the pharmaceutical and
defence markets.
The emphasis on achieving greater scale coupled with continuous improvement in
operational efficiency is beginning to impact positively on the financial
performance. The Company is in a strong position going forward, benefiting from
a high percentage of revenues generated from own brands, recurring sales of
consumables and direct sales.
PapalPower
- 07 Sep 2005 07:35
- 12 of 37
Earnings per share for the half year were 2.40p (2004: 1.72p), improving by 40%
period on period. Earnings per share before restructuring costs and
amortisation was 3.01p (2004: 1.78p) up 69%.
The Board has declared an interim dividend of 0.40 pence per share, which will
be paid on 11 October 2005 to shareholders on the register as at 16 September
2005.
PapalPower
- 07 Sep 2005 09:15
- 13 of 37
Numis, Nomura, Evolution and Rowan Dartington are all due to give new forecasts (Teather&Greenwood reiterated a buy stance on the 2nd Sept but may also give a new update).
With 5 brokers all due with new forecasts there could be some serious buying later this week and next.
PapalPower
- 07 Sep 2005 09:47
- 14 of 37
The Investors Chronicle had BOI as Good Value at 90p earlier in the year, with these good results and outlook and the new addition when they review the results one would hope it will get the full buy rating, will keep an eye out for an IC review which should be soon.
PapalPower
- 07 Sep 2005 13:15
- 15 of 37
PapalPower
- 06 Jan 2006 10:27
- 16 of 37
The BOI has woken up today :) and what a nice rise it is :)
News coming I think.
PapalPower
- 16 Jan 2006 07:15
- 17 of 37
Biotrace International PLC
16 January 2006
For Immediate Release 16 January 2006
BIOTRACE INTERNATIONAL PLC
('Biotrace')
Biotrace signs global agreement with Pall Corporation to market microbiological
air monitoring technology to the pharmaceutical industry
Biotrace International Plc, a leading manufacturer of industrial microbiology
and life science products, announced today that it has entered into an agreement with Pall Corporation ('Pall') (NYSE: PLL) giving Pall exclusive global marketing and distribution rights to the range of Ascotec environmental air monitoring products for the pharmaceutical industry. As part of the worldwide agreement, the two companies will also work together on the development of additional innovative products for the rapid detection of contamination. Microbiological monitoring of manufacturing processes is critical to ensuring compliance with regulatory requirements and product safety.
Biotrace's Ascotec products are used to monitor the quality of the air and
compressed gases in the production environment. They are used wherever clean
rooms are required for manufacturing of pharmaceuticals, personal care products
and cosmetics and in other clinical environments such as hospitals to reliably
capture bacteria in the environment for subsequent monitoring. The agreement
will provide industry with the ability to access the Ascotec air monitoring
technologies to better enable them to achieve the goals of the U.S. FDA Process
Analytical Technology (PAT) initiative. The PAT initiative encourages
manufacturers to adopt new analytical technologies to better control
manufacturing processes and provide greater assurances of product safety.
Ian Johnson, Chief Executive Officer of Biotrace, said:
'This agreement is another important milestone in our strategy to develop a
broad business base in industrial microbiology. Our leading position in
proprietary microbial testing technologies coupled with Pall's strong customer
relationships worldwide in the pharmaceutical industries will greatly enhance
our presence in this attractive market. The combination of Pall's filtration
technologies and know how with our technologies and expertise in rapid
microbiology will create the next generation of fast testing solutions reducing
the 'time to result' and improving production efficiency.'
Ken Frank, Corporate Vice President of Pall and President of the
BioPharmaceuticals Division, said:
'The addition of the Ascotec air sampler to our rapid microbiology platform,
including the PallchekTM monitor, gives customers around the globe access to a
proven technology that meets the most stringent clean room standards. It is an
ideal complement to our capabilities in process and environmental monitoring
technology and aligns with our business strategy to be a total solutions
provider for the biotech and pharmaceutical industry.'
- ENDS -
PapalPower
- 21 Jan 2006 01:43
- 18 of 37
Two very interesting articles below that holders and would be holders of BOI should read :
http://tinyurl.com/8dcoz
http://tinyurl.com/8rktn
PapalPower
- 24 Jan 2006 07:09
- 19 of 37
Biotrace International PLC
24 January 2006
BIOTRACE INTERNATIONAL PLC
Trading Update
Biotrace International Plc ('Biotrace', 'the Company' or 'the Group'), a leading manufacturer of industrial microbiology and life science products, is pleased to update investors with the following trading statement:
Strong revenue growth was achieved across all divisions in 2005 despite
difficult trading conditions in the food sector. Good progress was made in the
core Industrial business, which benefited from a full year's contribution by
Tecra, acquired in June 2004 and through the acquisition in September 2005 of
MicroSafe. As anticipated, the Defence and Life Science businesses remained at
similar levels to the previous year, before the addition of new business
acquired with MicroSafe.
Biotrace continues to benefit from the high level of repeat consumable revenues
which remained above 90% of Group revenues in 2005. This, together with a
similarly high level of sales generated from own brands and direct selling,
provides the Company with high visibility of future earnings and is a solid
platform for sales growth in 2006.
Ian Johnson, Chief Executive Officer of Biotrace, said:
'I am pleased to report that the Group continued to make good progress in 2005
and is likely to report year end results in line with market expectations.
Biotrace continues to be a profitable, highly cash generative business with
significant growth potential. The recently announced collaboration with Pall
Corporation is a great endorsement of our proprietary technologies and will help expand our business in the attractive pharmaceutical market.
I am optimistic about the Group's prospects and look forward to building on our
achievements in the coming year.'
Biotrace will announce its preliminary results for the year to 31 December 2005
on Wednesday 1 March 2006. There will be a presentation to analysts on the day
at 09.30, held at the offices of Buchanan Communications, 45 Moorfields, London
EC2Y 9AE.
- ENDS -
PapalPower
- 03 Mar 2006 06:16
- 20 of 37
New broker forecast.
Numis 1st March 2006 BUY
2006 Pre Tax Profit 3.5M
2006 EPS 8.5p
2006 DIV 1.7
2007 Pre Tax Profit 5.2M
2007 EPS 9.7p
2007 DIV 1.8
PapalPower
- 11 Mar 2006 16:25
- 21 of 37
Numis with some upgraded figures.
Numis 8th March 2006 BUY
2006 Pre Tax Profit 4.1M
2006 EPS 8.5p
2006 DIV
2007 Pre Tax Profit 5.3M
2007 EPS 9.8p
2007 DIV
PapalPower
- 30 Mar 2006 02:30
- 22 of 37
More new and must-have products released by Biotrace:
http://www.foodproductiondaily-usa.com/news/ng.asp?n=66653-biotrace-bacteria-sample
"Swabs pick up tough bacteria that survive cleaning
By Ahmed ElAmin
28/03/2006 - Biotrace International has released a range of sponges or swabs to help food companies pick up harmful bacteria that have survived the cleaning process.
Bacteria that survive harsh cleaning chemicals can become tougher to clean off processing equipment and later turn up in food products, causing a problem for manufacturers.
Food poisoning outbreaks can lead to a fall in a brand's market share and high costs due to product recalls.
The new sponges and swabs are available either dry or pre-moistened with a variety of broths and buffers to neutralise the effect of cleaning chemicals and maximise the survival of damaged or stressed microorganisms.
The company's HydraSponge and SpongeSicle products use sterile, biocide-free solutions to keep the organisms alive after sample collection.
?HydraSponge is a sponge designed for sampling large surface areas. SpongeSicle has a large sponge head and a blue plastic handle, which allows the user to collect a sample without direct contact with the sponge. It is especially useful for collecting samples from hard-to-reach areas, Biotrace stated.
Both products are supplied in Biotrace?s perforation free? sample bag. The sample bag keeps the sponge or swab sterile until sampling is needed. The dual laminate film used in the construction of the sample bag is puncture resistant.
To increase visibility on the production floor, the sponges are yellow. The tear-away portion of the sample bag and gloves are bright blue. Both products are available with or without gloves.
The Biotrace range of sampling sponges include RediSwab and the Tecra Enviroswab. RediSwab is a nine centimetre long dacron-tipped swab pre-filled with enrichment broth or neutralising solution in various fill volumes.?
The Enviroswab is pre-moistened with a specially formulated transport medium to maximise the survival of damaged or stressed microorganisms. One of the main advantages of the Enviroswab is that both the pre-enrichment and the incubation steps can be performed in a tube, Biotrace stated."
PapalPower
- 01 Apr 2006 04:31
- 23 of 37
http://www.foodproductiondaily.com/news/ng.asp?n=66781-biotrace-salmonella-testing
"Salmonella kit delivers results in under a day, company claims
By Ahmed ElAmin
31/03/2006 - A new testing kit for Salmonella promises to deliver results in less than a day.
Salmonella is one of the food industry's most problematic food-poisoning bacteria. In 2004 the most frequently reported zoonotic diseases in humans were salmonellosis and campylobacteriosis, with the most deadly being listerious, according to a European Commission report. Eggs, poultry meat and pork are the major sources of human Salmonella infections.
UK-based Biotrace International claims its Tecra Unique Salmonella test provides a simple and rapid method to detect Salmonella spp. in food and environmental samples in less than 22 hours.
The kit contains all the reagents needed for the testing in ready-to-use, self-contained modules, with the positive and negative controls are built-in. This makes the kit useful for running a single test or for testing multiple samples.
Unlike many other rapid Salmonella tests, Unique Salmonella can be run manually. It can be fully automated using Biotrace's Unique Pplus instrument.
"There is only one simple enrichment step, saving on media and autoclaving costs," Biotrace stated.
The kit can also be used with Biotrace's Quick-Enrich MBPW, a 225mL of sterile modified buffered peptone water pre-dispensed in a stand-up bag. The food sample can be added o the bag, mixed and allowed to incubate.
The Salmonella test is part or Biotrace range of expanding kits. The company has kits for testing for Listeria, Campylobacter and Staphylococcal Enterotoxins.
European consumers have become increasing concerned about food safety, mainly due to the bovine spongiform encephalopathy (BSE) scare in cattle beginning in the late 1980s, a foot and mouth disease outbreak in 2001 and of avian flu in 2003 and this year. Consumer concerns have in turn led to tougher regulatory action and increased surveillance of safety in food processing plants.
There were 192,703 reported cases of salmonellosis and 183,961 of campylobacteriosis cases reported during 2004 in the EU, according to a European Commission report. The incidence of salmonellosis represent 42.2 cases per 100,000 population, which represents an increase of 22 per cent when compared with 2003, indicating the higher levels encountered in the new states."
PapalPower
- 01 Apr 2006 04:32
- 24 of 37
http://news.ft.com/cms/s/dd75f814-c0a3-11da-9419-0000779e2340.html
John Lee: A fine month to reel them in By John Lee Published: March 31 2006
""""Finally to Marchs new find industrial microbiology products manufacturer Biotrace International a rare Welsh stock.
I was surprised to discover this solid quality niche business in the attractive growth sector of equipment for the rapid testing of microbial contamination in the food/beverage industry, also operating in the defence field, and planning to expand into pharmaceuticals and personal care products on a prospective price/earnings ratio only just in double figures.
Further research revealed it to be cash generative, with good gross margins, and with substantially recurring revenues. Additionally the recent results statement generated optimism and the tie-up with the large US filtration company Pall Corporation augurs well.
In the past Biotrace clearly traded on a much higher rating but had drifted to what I judged to be an attractive level. Thus I have been recently buying between 87p and 97p in a fairly tight market its market capitalisation is just less than 40m. Despite a lowish yield, this is one to tuck away in my Peps and Isas. """""
PapalPower
- 02 Apr 2006 03:04
- 25 of 37
Latest Broker Forecasts :
Teather and Greenwood 28th March 2006 HOLD
2006 Pre Tax Profit 4.5M
2006 EPS 8.1p
2006 Div 1.9p
2007 PTP
2007 EPS
207 DIV
Rowan Dartington 17th Mar 2006 ADD
2006 Pre Tax Profit 4.4M
2006 EPS 7.27p
2006 Div 1.7p
2007 Pre Tax Profit 4.8M
2007 EPS 7.98p
2007 DIV 1.85p
Numis 8th March 2006 BUY
2006 Pre Tax Profit 4.1M
2006 EPS 8.5p
2006 DIV
2007 Pre Tax Profit 5.3M
2007 EPS 9.8p
2007 DIV
PapalPower
- 03 Apr 2006 07:44
- 26 of 37
Nice news today :)
PapalPower
- 21 Apr 2006 07:07
- 27 of 37
Biotrace International PLC
21 April 2006
BIOTRACE INTERNATIONAL PLC
('Biotrace', 'the Company' or 'the Group')
Sale of Property
Biotrace International Plc, a leading manufacturer of industrial microbiology
products, announces today that its joint venture company, Mansford Biotrace Ltd
has completed the sale of the Biotrace headquarters property for 2.5 million.
The Company announced on 6 April, that contracts had been exchanged for the sale of the property for 2.5 million with completion expected to take place by the end of April. Completion has now taken place and the cash consideration
received. As already stated Biotrace will realise a gain of 0.5 million on the
disposal which together with the release of its original investment in the joint venture will give rise to a cash benefit of 0.6 million for the Group.
- ENDS -
PapalPower
- 11 May 2006 08:09
- 28 of 37
RNS Number:7849C Biotrace International PLC
11 May 2006
BIOTRACE INTERNATIONAL PLC
("Biotrace", "the Company" or "the Group")
Company Awarded NATO Defence Contract
Biotrace International Plc, a leading manufacturer of industrial microbiology
products, announces that it has been awarded a contract by the North Atlantic
Treaty Organisation (NATO) Maintenance and Supply Agency ("NAMSA") to supply
three Field laboratories.
Following a competitive tendering process, NAMSA awarded a contract to Biotrace
MicroSafe for the supply of three Nuclear, Biological and Chemical ("NBC") field
laboratories and associated equipment. These will be deployed by the Italian
Army in any contaminated areas for operations in Italy and missions abroad.
The total contract value for the three NBC laboratories is Euro1.74 million (#1.2
million) with delivery in the last quarter of 2006.
Ian Johnson, Chief Executive Officer of Biotrace, said:
"To date our Defence business has represented a modest percentage of Group
revenues and has largely been driven by sales of products to a single customer,
the UK Ministry of Defence. This has resulted in sales being better in some
years than others depending on system usage and world events.
The acquisition of MicroSafe in Italy just over six months ago has broadening
the customer base and expanded Defence revenues substantially. This
significant contract win from a major new customer demonstrates our enhanced
capability to deliver complete solutions for military and homeland defence and
is a great endorsement of our technology and expertise in addressing this
specialist market.
Whilst the Defence business remains difficult to predict, greater opportunities
now exist for growth with this contract adding significantly to revenues in
2006."
Roro
- 11 May 2006 10:10
- 29 of 37
Numis have raised target to 125p with an add rating
PapalPower
- 12 May 2006 07:01
- 30 of 37
http://www.timesonline.co.uk/newspaper/0,,2706-2176820,00.html
The Times May 12, 2006
Smaller stock to watch
Biotrace International, the maker of microbiological testing equipment based in Bridgend, rose 2p to 97p on a deal to supply three nuclear, biological and chemical field laboratories to Natos maintenance and supply agency for use by the Italian Army. Numis Securities repeated its 125p target, noting that the contract cements a relationship with Nato
PapalPower
- 12 May 2006 07:40
- 31 of 37
http://news.independent.co.uk/business/analysis_and_features/article364359.ece
"Biotrace
Our view: Worth a punt
Share price: 97p (+2.5p)
Biotrace International's germ-testing equipment is a defence against everything from listeria in food to biological warfare. Yesterday came news that Nato had awarded the group a contract to supply field laboratories which will test the air for nuclear, biological or chemical weapons.
The deal will generate about 1.2m in revenues for Biotrace this year and a profit of 200,000. The company also supplies the bulk of the equipment that goes into labs. This needs to be renewed regularly and adds to the profitability of the contract.
However, the defence industry is not Biotrace's biggest client. It gets the bulk of its revenues from industrial markets. Although these tend to be lower-margin sales, they are much more reliable.
From an investment point of view, Biotrace is a recovery play after a number of earnings disappointments in recent years. Analysts expect it to make a profit of 4.3m this year. This leaves the stock trading at about 11 times forward earnings. If it meets this target, the shares should motor.
But given its track record, this is not a company for the faint-hearted. For the brave, it is probably worth a punt."
PapalPower
- 22 Jul 2006 03:29
- 32 of 37
From Hemscott today:
http://www.hemscott.com/news/comment-archive/item.do?id=10352
"Biotrace confident as trading improves
Kam Patel, 20/07/06 15:04
The maker of industrial microbiology products expressed confidence about its prospects after making good progress in the first half despite lower sales into the UK defence sector.
In a trading update for its first half to June, Biotrace's chief executive Ian Johnson was keen to highlight the contribution from Microsafe, acquired last September for £2.5m.
Italy-based Microsafe has helped to beef up Biotrace's exposure to the food, pharmaceutical and defence sectors. Johnson says that over the first half the acquired business 'added significantly' to group revenues. It also secured further substantial contracts for the defence and pharmaceutical divisions and these should help fuel further growth of the business in the second half.
Elsewhere, the group benefited from modest growth in the food and environment division in the first half, reversing the negative trend experienced over the previous 12 months. The improvement in performance is despite continuing tough trading conditions and increasing pricing pressures across Europe.
The group's pharmaceutical, personal care and cosmetics division expanded significantly in the period, thanks mainly to the contribution from Microsafe. It expects the division to have a stronger second half as it meets orders scheduled for delivery at the back end of the current year.
Defence product sales to the UK Ministry of Defence however were lower than last time and remain 'difficult to predict'. Biotrace added however that sales to overseas military and homeland defence organisations continue to be more robust and will be boosted in the second half by the recently announced £1.2m order from the NATO Maintenance & Supply Agency. The order, won in May, requires the supply of three nuclear, biological and chemical field laboratories and associated equipment.
Among the specialties of its defence business is the supply of systems and consumables for the rapid detection of biological weapons.
Johnson said that group cash generation over the first half was particularly strong. Operational cash flow improved thanks to cash generated from the sale and leaseback of its headquarters and the £1m disposal via an MBO of the Ruskinn life science business. The overall impact of all this is that the group's net debt position at the end of the half-year has 'substantially improved'.
Johnson reckons the group is well placed to meet full year expectations and is confident about its longer-term prospects.
In the wake of the statement broker Numis said it would be maintaining its full year forecasts for the group. It anticipates pretax profits of £4.3m and earnings per share of 8.2p, with sales seen coming in at £36.5m.
The broker reiterated its 'buy' recommendation with a 125p target price, which currently offers a 47% upside.
Mid afternoon, Biotrace International Plc shares were up 0.5p to 85.5p, giving a forward 2006 PER of 10.4, falling to 9.5 in 2007. The prospective yield is 2%.
The group plans to publish its interims on 6 September."
PapalPower
- 06 Sep 2006 07:12
- 33 of 37
RNS Number:5383I
Biotrace International PLC
6 September 2006
BIOTRACE INTERNATIONAL PLC
("Biotrace", "the Company" or "the Group")
INTERIM RESULTS
for the six months ended 30 June 2006
Biotrace International Plc, a leading manufacturer of industrial microbiology
products, today announces its interim results for the six months ended 30 June
2006.
Highlights
Financial
* Revenue up 24% to #16.9M (2005: #13.6M)
* Pre-tax profit up 27% to #1.7M (2005: #1.4M)
* Earnings per share up 31% to 3.15p (2005: 2.40p)
* Operational cash flow up 35% to #3.1M (2005: #2.3M)
* Interim dividend increased 37% to 0.55p (2005: 0.40p)
Operational
* Revenues in the period benefited from a full six month contribution from the
acquisition of Microsafe in September 2005 and four month contribution from
Target Diagnostica which was acquired in March this year
* #0.5M profit before tax generated from the sale of the Bridgend HQ
property in April this year
* Disposal of Ruskinn Life Sciences in February 2006 for #1M and 10%
equity in ongoing business
* Signed agreement with Pall Corporation in January this year to expand
sales in the pharmaceutical sector
Commenting on the interim results, Terry Clements, Non-executive Chairman of
Biotrace, said:
"I am pleased to report a substantial improvement in the financial performance
of the Group for the first half of the year compared with the corresponding
period last year. Revenues have grown as a result of focussing the business
through acquisitions and disposals, expanding the customer base and broadening
the product offering. The acquisitions have been aimed at significantly
expanding the Company's presence in the pharmaceutical market, whilst the
disposal of the Bridgend HQ property announced earlier in the year generated a
gain of #0.5M pre-tax, boosting earnings in the period. This together with the
disposal of the Ruskinn Life Sciences business in February will generate an
additional #1.7M of cash this year.
The Company is continuing to make good progress by broadening the business base
and developing a world class global sales channel for industrial diagnostics.
Organic growth is beginning to improve despite continuing tough trading
conditions. We are therefore confident in our ability to deliver a good full
year performance and remain optimistic about the Company's long term prospects."
Further information:
Biotrace International Plc on the day tel: +44 (0) 207 466 5000
Ian Johnson, Chief Executive Officer thereafter tel: +44 (0) 1656 641 492
Peter Morgan, Finance Director
Buchanan Communications tel: +44 (0) 207 466 5000
Tim Anderson/James Strong/Mary-Jane Johnson
Analyst meeting:
An analyst briefing will be held at 09:30 am today at the offices of Buchanan
Communications, 45 Moorfields, London EC2Y 9AE.
PapalPower
- 15 Sep 2006 08:09
- 34 of 37
Biotrace International PLC
15 September 2006
STATEMENT REGARDING RECENT PRESS SPECULATION
The Board of Biotrace International PLC (the 'Company') notes the recent press
speculation regarding a potential offer for the Company and confirms that it has received a number of preliminary approaches, which may or may not lead to an offer being made for the Company.
A further announcement will be made in due course.
Enquiries: Telephone
Biotrace International plc +44 (0)1656 641 400
Ian Johnson
Numis Securities Limited +44 (0)20 7776 1500
Michael Meade
Bruce Garrow
PapalPower
- 16 Sep 2006 15:14
- 35 of 37
Biotrace receives several 'preliminary' approaches
By Robert Orr
Published: September 16 2006 03:00 | Last updated: September 16 2006 03:00
Biotrace International, the Welsh germ detection company, has received a number of approaches from prospective buyers for the company whose client list includes food and drink groups such as Nestl Kraft and Pepsi.
Biotrace and Numis Securities, its advisers, are studying the various proposals, received in the last few months and understood to be in the region of 130p a share.
PapalPower
- 04 Oct 2006 19:09
- 36 of 37
Offer now made, 130p in cash.
Easy money these takeovers :)
Now I await the offer for EKA to come in, which should, I hope, be a fair few points higher than todays EKA price (I expect something around 120p to 130p equivalent but an all share offer).
HARRYCAT
- 19 Oct 2011 09:44
- 37 of 37
Am I right in saying that this company was taken over by 3M, yet is still showing as paying a divi (as BOI) on the 26th Oct (6.6875p)?