I have held CRX for too long, but initially bought on seeing the theoretical advantages of the "systems" for evaluation of drugs at potentially less costs than other systems.

I bought the shares initially long out and bought a number of times at lower and lower prices.

From the fundamentals it appears to be beginning to show profits, and projections are also good.

The charts point to a break out reversal which is being sustained.
On a 12-18ths time scale should do well. I wouldn't trade it, as the spread for me is too wide.

BDYOH

Trading Update and Notice of Interim Results


Cyprotex PLC, the preclinical ADME-Tox services company, provides an update on revenue and profit guidance for the first half of 2016.

The financial performance of the Company for the first half of the year is significantly ahead of the Boards expectations, comparative period performance and internal budgets.

The Board expects to announce the Interim Results of the Company on 2 August 2016.

The Board also confirms that the Company's strategic review is progressing.

This announcement contains inside information.

Interim Results

Revenue growth and increase in profitability continue into 2016

Cyprotex PLC (AIM: CRX), a specialist ADME-Tox Contract Research Organisation (CRO), today reports its interim results for the half year to 30 June 2016.


Financial Highlights

· Revenues up 26% to £8.73 million (H1 2015: £6.93 million).
· Gross margins were 77.5% (H1 2015: 76.8%).
· Operating profit up significantly to £1.49 million (H1 2015: £0.36 million).
· Underlying EBITDA^ increased to £2.34 million (H1 2015: £1.10 million).
· Cash of £6.82 million (H1 2015: £4.13 million, FY 2015: £5.41 million).

^ excluding share based payment charge of £0.13 million (H1 2015: £0.08 million)

Operational Highlights

· Significant increase in new customers to 139 (H1 2015: 103).
· Watertown revenues in H1 2016, up almost 70% from the comparative period, benefitting from the general improvement in the investment environment in the East Coast of USA.
· Demand for high value drug-drug interaction packages and metabolite identification has been strong and has assisted in growing revenues ahead of expectations.
· Our presence at Alderley Park BioHub site has increased with the opening of a new bioanalytical laboratory to allow for planned expansion of these services later in the year and the expansion our toxicology facility. Proprietary 3D cellular models have been highly successful in revenue generation.
· Validation of a High Throughput (HT) ADME screening platform at our Watertown site has been completed and is supporting large scale screening contracts for the US Government and other customers.
· Upgrading of our toxicology assays at Kalamazoo to provide in vitro GLP genotoxicity services has already seen positive customer interest.
· Website upgrades and social media engagement have increased the global recognition of the Cyprotex brand.
· Revenue from the largest customer accounts for 10.3% (FY 2015: 9.6%) of total revenue and represents continuing business with a major pharmaceutical company.

Ian Johnson, Chairman of Cyprotex PLC, said:

"I am delighted to report that the progress made in 2015 has continued into 2016 and, as previously flagged to the market, we are substantially ahead of our expectations. The growth of the business is global and from an increasingly wide range of industries and sectors. Investment in all sites, which commenced in 2014, continues and is delivering high quality new services which contributed to the increase in revenue in H1 2016. Watertown and both UK sites have grown revenues and consequently operational profitability. The Kalamazoo site has received considerable investment to launch a suite of GLP genotoxicity services which we expect will drive revenue growth for the site in the second half of the year. Of note is the collaboration with Cytocentrics announced in February 2016 where we are developing a full range of ion channel services to meet the expected regulatory changes in cardiac safety testing as a consequence of the CiPA initiative. The second half has started well and the Board looks forward to the remainder of the year with continued confidence."

This announcement contains inside information for the purposes of Article 7 of EU regulation 596/2014.

Announcement: Recommended Offer

Posting of Scheme Document