Cryo-Save Group N.V.: Revenue up 5% to ?19.5 million and Net Profit up 36% to ?1.3 million in first half year 2010
(Thomson Reuters ONE) -
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Cryo-Save Group N.V. (Euronext: CRYO, 'Cryo-Save', or 'the Group'), Europe's
leading adult stem cell storage bank, has published its interim results for the
six months ended 30 June 2010.
Financial highlights
* Revenue up 5% to ?19.5 million (1HY 2009: ?18.6 million)
* EBITA* up 23% to ?2.5 million (1HY 2009: ?2.0 million)
* Operating profit up 31% to ?1.9 million (1HY 2009: ?1.4 million)
* Profit before taxation up 33% to ?1.6 million (1HY 2009: ?1.2 million)
* Net profit up 36% to ?1.3 million (1HY 2009: ?0.9 million)
* Basic earnings per share 13.7 euro cents (1HY 2009: 10 euro cents)
* Strong net cash from operating activities ?2.0 million (1HY 2009: ? 2.6
million)
* Solid cash position of ?5.9 million as at 30 June 2010
* EBITA is defined as Earnings Before Interest, Taxation and Amortisation of
identified intangible assets
Operational highlights
* Strengthened market position and product range in key markets
* Over 50% of new customers opted for combined service of cord blood and cord
tissue storage in the countries where it is offered
* Successful European launch of Cryo-Lip®, a new product that allows the
collection, processing and storage of adult stem cells from fatty tissue
* Volume growth of 13,300 samples
* Total number of samples stored: 135,000
Statement with respect to US court decision regarding embryonic stem cell
research
Cryo-Save processes and stores adult stem cells collected from the umbilical
cord blood and tissue immediately after birth and from fatty tissue from adults.
Cryo-Save reconfirms that it is not involved in research, storage or expansion
of embryonic stem cells. The court decision taken earlier this week in the
United States relates to the temporary stop of government funding of embryonic
stem cell research. This will not impact our business, on the contrary it should
encourage the usage and potential of adult stem cells. Clinical trials and stem
cell therapies use adult stem cells, embryonic stem cells are used for
fundamental research.
Arnoud van Tulder, Chief Executive officer, commented:
"The first half of 2010 showed solid revenue and returns despite the economic
environment which has affected some of our markets. A combination of tight cost
control and the fact that we operate in a number of countries with an increasing
range of products, has tempered the tougher conditions.
"We are very excited to be the first company in the world that offers adults the
opportunity to store their stem cells from fatty tissue via Cryo-Lip(®), further
strengthening our product range.
"The strategic rationale for stem cell storage continues to grow as medical
advances widen the potential uses for stored cells, whilst our geographical
reach, product range and operational gearing enable us to maintain our leading
position."
Enquiries:
Cryo-Save Group + 31 (0) 575 548 998
Arnoud van Tulder, Chief Executive Officer
SPJ Financiële Communicatie (The Netherlands) +31 (0)20 6478181
Kees Jongsma/Leon Melens
Daniel Stewart & Company plc (UK) + 44 (0) 20 7776 6550
Chris Theis
College Hill (UK) + 44 (0) 20 7457 2020
Adrian Duffield/Rozi Morris
Free footage is available on www.videobankonline.com.
About Cryo-Save
With more than 135,000 samples saved, Cryo-Save is the leading stem cell bank in
Europe and one of the fastest growing in the world. Driven by its international
business strategy, Cryo-Save is now represented in 39 countries on three
continents with state-of-the-art processing facilities in Belgium, Germany,
Dubai, India and France.
[HUG#1440400]
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Source: Cryo-Save Group N.V. via Thomson Reuters ONE
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Datum: 26.08.2010 - 07:01 Uhr
Sprache: Deutsch
News-ID 40046
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