PuriCore specializes in developing and commercializing solutions to protect against the spread of infectious pathogens. Our proprietary products are effective while being completely safe for human and animal health and the environment.

PuriCore has broad experience in key markets that depend upon effective pathogen control.
We are the leading full provider of all products and services required for a safe, efficient, and compliant endoscope decontamination to protect patients in UK hospitals.
We are the standard for protecting consumers and employees from contaminated fresh perishables in leading US supermarket chains.
We offer a safe and effective wound therapy solution to cleanse chronic and acute wounds including diabetic ulcers and burns.


http://www.puricore.com/

Trading Update and Strategic Review

RNS


RNS Number : 0360M

PuriCore Plc

11 July 2014






Trading Update and Strategic Review



11 July 2014 - PuriCore plc (LSE: PURI), a global company focused on safe and effective protection against the spread of infectious pathogens, today issues an update on trading ahead of the publication of its results for the six months ended 30 June 2014, which is expected during the week of 4 August 2014, as well as an update on the initiation of a strategic review to determine the next phase in the Company's development.



Trading Update

With the sale of the Endoscopy business now successfully completed, PuriCore is focusing additional resources on the adoption and rollout of bottled Supermarket Retail concentrate products, ProduceFresh® and FloraFresh®, as its key operational priority. As previously reported, with the rebalancing of the product mix, the Company is experiencing a reduction in revenue in this business in the near term as customers transition to consumable products and capital equipment sales decline. In-market demand for consumable implementations has been encouragingly strong with existing and new customers signing on for the new products. Meeting this demand in a short timeframe has resulted in higher than expected service costs during the period, which is being addressed as an operational priority. The Board remains confident that with enhanced investment in sales and marketing resources, accelerated market share can continue to be achieved.



Further, the trends reported in Health Sciences in the Q1 Interim Management Statement continued into Q2. With the distraction of the Endoscopy business sale process and the delay in capital sales preceding the launch of the new endoscope washer disinfector, earnings in H1 are expected to be lower than in prior year H1. The Wound Care and Dermatology business showed progress in H1, but with the absence of comparable milestone payments as were booked in H1 2013, revenues and earnings are expected to be softer.



As a result of all these factors, the Company expects to report an operational EBITDA* loss for H1 2014, materially lower than the positive EBITDA reported for H1 2013. Full results, including the financial impact of the sale of the Endoscopy business, will be provided in the interims to be released in early August.



Strategic Review

Meanwhile, the Board has initiated a strategic and operational review of the business to optimise the use of the proceeds from the sale of the Endoscopy business to build shareholder value. This review covers growth investment strategies, operational efficiency initiatives, R&D programmes, strategic acquisitions, and a potential return to shareholders. The Company will continue to focus on tight cost control to optimise margins whilst recognising that growth initiatives will require further investment in key areas. Following review and approval by the Board, the strategic plan will be communicated to shareholders in Q4 2014, along with revised expectations of full-year performance.



The Board believes sustainable growth should be driven by increasing recurring revenues in both continuing businesses. The Company has therefore identified the following key areas of strategic focus within these businesses for further investment and potential complementary acquisitions.



Supermarket Retail

· Identify additional investment opportunities to drive rapid adoption of ProduceFresh and FloraFresh

· Extend the footprint with supermarket customers by delivering novel product formats in new areas within the store



Wound Care and Dermatology

· Develop opportunities to expand the product portfolio, formats, and geographic reach

· Invest in clinical studies to support both infection control regulatory approvals and wider marketing initiatives



Michael Ashton, Chief Executive Officer, said:

"The sale of the Endoscopy business opens a new chapter for PuriCore. Whilst we faced some disruption in the first half as a result of selling the UK business, transitioning away from a capital-intensive business in Supermarket Retail, and meeting demand for our new concentrate products, we continue to see opportunities for sustainable growth within and around our refocused businesses. Our strengthened cash position provides us with the resources and confidence to optimise these opportunities through investment in a targeted and disciplined manner. We look forward to sharing our new strategic plan together with our revised expectations for current year results in the autumn."



* Earnings before interest, tax, depreciation, amortisation, and non-cash equity-related charges

12/08/2014 BUY Michael Ashton CEO 50,000
12/08/2014 BUY Michael Ashton CEO 100,000

Interim Management Statement

RNS


RNS Number : 7793V

PuriCore Plc

31 October 2014






PuriCore plc

Interim Management Statement

Strategic Review Update by Year End



31 October 2014 - PuriCore plc (LSE: PURI), a global company focused on safe and effective protection against the spread of infectious pathogens, today announces its Interim Management Statement for the period from 1 July 2014 to 30 October 2014, which incorporates information in relation to the financial performance of the business for the third quarter and nine months ended 30 September 2014.



Group Results (Continuing Operations) *

Group revenue for the nine months ended 30 September 2014 decreased 39.5% to $13.2 million (2013: $21.9 million). In the third quarter of 2014, as expected, Group revenue decreased to $4.7 million (Q3 2013: $9.5 million). This reflects the impact of the continued rebalancing of Supermarket Retail product mix, as consumable product sales increase and capital equipment sales decline, in line with the fundamental change in the Supermarket Retail business model implemented last year.



Cash and cash equivalents, net of debt, were $22.7 million as at 30 September 2014. As at 1 July 2014, following receipt of PuriCore International Limited sale proceeds, pay-down of the line of credit, and payment of a limited portion of sale related expenses, gross cash and cash equivalents were $26.8 million.



Supermarket Retail Revenue

Revenue decreased 39.6% to $11.9 million for the nine months (2013: $19.8 million). However, during the period, new recurring revenue streamswere created by adding new customer stores and converting existing customer locations to ProduceFresh® as well as from new stores implementing FloraFresh®.



Wound Care and Dermatology Revenue

Revenue, excluding milestones payments, was constant at $1.3 million for the first nine months of 2014 (2013: $1.3 million, excluding $0.8 million of milestone payments). The Company is evaluating the performance of distributors in these markets and is seeking new partners to expand geographic reach.



Outlook

The Board remains confident in PuriCore's ability to deliver value to shareholders by leveraging its unique hypochlorous acid technology in markets and applications for which it delivers a competitive advantage. As expected, 2014 revenues and earnings will be lower than in the prior year as the business model in Supermarket Retail transitions and investments are made across the Group to support longer-term growth. The Company will remain vigilant in controlling costs and preserving cash while prudently investing for the future. The Board has advanced the strategic and operational review of the business and plans to announce further details later this year.



Michael Ashton, Chief Executive Officer of PuriCore, said:

"The lower reported revenue for the period is consistent with the announced change in the Supermarket Retail business, from a capital sales driven business model to one that will deliver more consistent recurring revenues. We are confident that this shift is the right strategy for the longer-term success of the business.



"Through the strategic review, we have identified new growth opportunities across the Group in which we will invest while implementing focused cost reduction plans elsewhere. These opportunities entail new products and applications as well as geographic expansion and centre on leveraging PuriCore's patented technology. As the strategy continues to evolve, we will share further updates with the market later this year."



* As previously announced, the Company completed the disposal of the UK Endoscopy business on 30 June 2014. Accordingly, the results of operations for that business, including the impact of the disposal, are reported as Discontinued Operations. The Continuing Operations comprise the Company's Supermarket Retail and Wound Care and Dermatology businesses. Group Results reflect the Continuing Operations only and the comparative prior period results have been re-stated to reflect only the Continuing Operations.

Puricore commences trading on AIM

RNS


RNS Number : 4394A

PuriCore Plc

23 December 2014






PuriCore plc

("PuriCore" or the "Company")



Puricore commences trading on AIM



23 December2014 - PuriCore plc (AIM: PURI), an international company focused on safe and effective protection against the spread of infectious pathogens, is pleased to announce the admission of the Company's entire issued share capital comprising 50,135,432 ordinary shares of 10 pence each ("Ordinary Shares") to the AIM market of the London Stock Exchange. Trading in the Company's shares will begin at 8.00 a.m. today. PuriCore's Ordinary Shares have been removed from trading on the Main Market of the London Stock Exchange and their listing on the Official List has been cancelled. The Company's ticker remains PURI.



Information on PuriCore and its business, including that required by AIM Rule 26, can be found on the Company's website: www.puricore.com.

Signs Major Supermarket Deal
RNS
RNS Number : 8412H
PuriCore Plc
19 March 2015



PuriCore plc ("PuriCore" or the "Company")



Signs Major Supermarket Deal



Estimated $17.8 Million Sterilox® Fresh Agreement





19 March 2015 - PuriCore plc (AIM: PURI), an international company focused on safe and effective protection against the spread of infectious pathogens, today announces it has signed a new Sterilox® Fresh agreement worth approximately $17.8 million over the next six years, with a top-three US supermarket retailer.



Over the past 18 months, the Company has expanded its product platforms to provide customers with flexible purchasing options for its proprietary food-safe sanitising solution that can be adapted to suit their business needs. Customers can now choose between the traditional capital equipment route, purchasing a Sterilox® Fresh System, which can be beneficial to high volume users, and ProduceFresh®, the concentrate product, which is a bottled consumable version supplied through a concentrate delivery system (CDS). PuriCore's strategy remains to establish increasing recurring revenue and a more predictable business, whilst providing the option for a capital equipment purchase to those customers for whom it is more suitable.



Under the terms of the agreement, the retailer will purchase the Sterilox Fresh Systems and an extended five-year warranty contract. Installation of the equipment will commence in late Q2 2015, with completion expected in Q1 2016 and the capital revenue, totalling approximately $11.4 million, will be recognised over this period. The recurringrevenue from the service agreement, totalling approximately $6.4 million, will be recognised over the term of the warranty, which extends into 2021.



As a high volume user of the solution, the customer in this agreement, currently using ProduceFresh, has decided to purchase capital equipment after determining that it is the most appropriate option for the majority of its enterprise. The CDSs already installed at the stores will remain in place and the customer will continue to purchase ProduceFresh on a limited, as-needed basis, to supplement the capital equipment. Those stores in the enterprise not adopting the capital equipment will continue to use ProduceFresh to meet all their solution needs.





Michael Ashton, Chief Executive Officer of PuriCore, said:



"We are delighted to announce this significant agreement with a leading retailer. Importantly, this contract re-affirms the considerable value realised by customers who use our solution. With the launch of our concentrate product line, we are able to offer our customers expanded options to obtain our solution, but remain able to meet the needs of customers who prefer to purchase equipment based on their level of usage and preference.



"Under this agreement, we will recognise capital equipment revenue and substantial recurring revenue in the form of warranty contracts as well as some continuing consumables revenue from stores remaining on the ProduceFresh platform. Our strategy remains to increase revenue derived from recurring sources, while continuing to offer a capital equipment sale to those customers for whom it is a better fit."





-Ends-