Business
Final Results for the year ended 30 June 2011
Final Results for the year ended 30 June 2011.
About this update from Bioventix Plc
[{"type":"text","content":"\n \n BIOVENTIX PLC \n\n FINAL RESULTS FOR THE YEAR ENDED 30 JUNE 2011 \n\n 13 SEPTEMBER 2011 \n\n\nThe Chairman and the Chief Executive present their statement for the period.\n\nWe are delighted to report the results for the year ended 30 June 2011.\nRevenues for the period of £1,973,542 (2010 : £1,578,162) have grown by 25%.\nThe growth in sales to the multinational diagnostics companies that form\nBioventix's customer base is due to an increased supply of purified antibody\nproducts for customers' research and development (\"R&D\"), and commercial use\nand increased royalties from established antibody products. Profit before tax\nof £1,083,620 (2010 : £682,706) has increased through a combination of the\ngrowth in revenues and controlling of the cost base of the company. Cash\nbalances at 30 June 2011 were £1,531,644 (2010 : £1,349 084).\n\nOne of the most exciting developments for the company has been the vitamin D\nproject which has been the subject of intensive internal R&D since the summer\nof 2008. A leading antibody called vitD3.5H10 has moved into large scale\nmanufacturing at the company in order to supply increased quantities of\nantibody required for our customers' own R&D use. Revenue from the supply of\nthis product has been generated for the first time during the period. No major\nlicensing deals have yet been concluded, however, the Directors are optimistic\nabout the future value of this particular antibody and anticipate that\nsignificant licensing deals will be forthcoming in the future.\n\nThe company has continued with its own R&D activities aimed at augmenting the\npipeline of future antibodies for commercialisation at Bioventix's customers.\n\nThe continued success of the company is based on the ability to create and\nmanufacture unique antibodies in a global and competitive environment. This is\nmade possible by the creativity and focus of the scientists and support staff\nat the company and we would like to thank them for their efforts which have\nunderpinned our success.\n\nThe Board of Bioventix is pleased to declare a final dividend of 6.6p per\nOrdinary share. The shares will be marked ex-dividend on 21 September 2011 and\nthe dividend will be paid on 3 October 2011 to shareholders on the register at\nclose of business on 23 September 2011.\n\nSpringHill BioVentures (SBV) cont...