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

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."

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."

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.

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

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.

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).

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)?