Published on 26th August 2014

Bioquell PLC ("Bioquell") (LSE symbol: BQE) - provider of specialist bio-contamination control technologies to the international Healthcare, Life Sciences & Defence markets; and specialist testing services in the UK via its TRaC division, today announces its interim results for the six months ended 30 June, 2014.

Highlights:

  • Group revenues of £20.7 million (2013: £21.2 million) - flat in constant currency terms
  • Profitability held back by challenges previously announced in Bio division - Group loss before tax of £0.1 million (2013: profit before tax of £0.8 million)
  • Further cost reduction programme underway in Bio division, with estimated pro forma annualised savings of £1.4 million
  • Contract awarded in August for 20 Bioquell Pods and associated hydrogen peroxide vapour bio-decontamination equipment from a hospital in the Middle East concerned by the threat from viruses such as MERS-COV and Ebola
  • £3.7 million defence order received from a Middle Eastern customer
  • TRaC trading well with revenues of £8.4 million (2013: £8.7 million) and operating profit of £1.5 million (2013: £1.5 million), against tough prior year comparators
  • TRaC making good progress on building new, complementary test revenues to  diversify its service offerings

Commenting on the 2014 interim results, Nigel Keen, Chairman of Bioquell PLC, said:

"As we flagged up in May, the first half of this year has been extremely tough for our Bio division which has faced a number of difficulties. However, we have started a cost reduction programme, adjusted our business model and have made a number of senior management changes which should help us to generate an appropriate financial return from the division's core technology."

"I am particularly encouraged that we are beginning to see demand from hospitals for our unique combination product comprising our (single patient room) Pods and HPV bio-decontamination equipment."

"TRaC continues to trade well and is working on a number of interesting opportunities to enable it to broaden both technologically and geographically the services it offers its clients."

  • Bioquell PLC announces its interim results for the six months ended 30 June, 2014.
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