Business
Pre-close Trading Update
Pre-close Trading Update.
About this update from Avacta Group Plc
[{"type":"text","content":"\n \nRNS Number : 9758L Avacta Group PLC 09 August 2011 \n \n\n\n \n\n\n\n\nPress release\n\n\n09 August 2011\n\n\n\n\n \nAvacta Group plc\n \n(\"Avacta\" or \"the Group\")\n \nPre-close Trading Update\n \nAvacta Group plc (AIM:AVCT), a leading provider of analytical and diagnostic technologies and services to the pharmaceutical and animal healthcare sectors, today announces the following trading update for the six month period to 31 July 2011 .\n \nTrading update\n \nThe Company is pleased to announce that trading is in line with expectations. Underlying revenues have grown and operating losses have been reduced significantly; both are in line with market forecasts. \n \nAvacta Analytical\n \nAvacta Analytical's commercial partnerships are progressing well. The Company now has commercial agreements in place, to sell Optim, with:\n \n· Pall Corporation in North America\n· Isogen Life Sciences in mainland Europe\n· DKSH in Japan\n· Cold Spring Biotech in China, Honk Kong and Taiwan\n \nThe Company has exceeded market expectations for sales of its Optim protein analysis system with 14 systems ordered during the year. The Company already has orders for the new financial year and an encouraging pipeline of high quality sales leads in place. Management hopes that these partnerships will lead to a growth in sales going forward. \n \nThe Company has additionally put an agreement in place with Pall Corporation to market and provide joint analytical services to be aimed at reducing drug development risk by giving greater insight into the effects of their manufacturing processes on the stability and structure of the products.\n \n\nAvacta Animal Health\n \nThe previously announced issues with the manufacture and injection moulding of the AX-1 disposable cartridges that have delayed product roll-out are now resolved. The Company is now building stock of the new cartridges and AX-1 units and will be supplying the AX-1 point-of-care diagnostic system to customers later in 2011. \n \nAvacta is delighted to announce two new appointments at Avacta Animal Health. Ged Holmes has been appointed Chief Executive Officer. Ged has a strong track record in comme...