Business
Interim Results to 31 December 2010
Interim Results to 31 December 2010.
About this update from Bioventix Plc
[{"type":"text","content":"\n \n Bioventix plc \n\n INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2010 \n\nChairman's and Chief Executive's Statement\n\nWe are pleased to report the results for the six months ended 31 December 2010.\nRevenues for the period of £890,256 (2009: £768,419) have continued to grow in\nparticular from the supply of purified antibodies to the multinational\ndiagnostics companies that form Bioventix's customer base. Most of this growth\nhas come from sales of antibodies to vitamin D which has been the subject of\nintensive internal research since the summer of 2008. It is pleasing to see\nthat the technical success previously reported for the vitamin D project has\nbegun to translate into revenues for the company.\n\nProfit before tax of £493,511 (2009:£386,210) has increased during the\nhalf-year as a result of the growth in revenues. Cash balances at 31 December\n2010 were £1,494,710 (2009:£1,475,671). In addition, the company continued with\nits research and development activities aimed at augmenting the pipeline of\nfuture antibodies for commercialisation at Bioventix's customers.\n\nThe substantial progress of Bioventix during the period is due above all to the\ncontributions of its employees and their commitment to Bioventix's future. On\nbehalf of the Board, we would like to thank them for their efforts which have\nunderpinned our success.\n\nThe Board of Bioventix is pleased to declare an interim dividend of 4.4p per\nOrdinary share. The shares will be marked ex-dividend on 23 March 2011 and the\ndividend will be paid on 28 March 2011 to shareholders on the register at close\nof business on 25 March 2011.\n\nP J Harrison\nChief Executive Officer\n\nI J Nicholson\nNon-Executive Chairman\n\n BIOVENTIX PLC \n\n PROFIT AND LOSS ACCOUNT \n\n for the six month period ended 31 December 2010 \n\n Six months Six months\n ended ended\n 31 Dec 2010 31 Dec 2009\n \n £ £\n \nTURNOVER 890,256 768,419\n \nCost of sales (69,369) (99,014)\n \nGROSS PROFIT 820,887 669,405\n \nAdministrative expenses (328,549) (285,282)\n \nOther operating income - 75\n \nOPERATING PROFIT 492,338 384,198\n \nInterest receivable 1,173 2,012\n \nInterest payable - -\n \nPROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION 493,511 386,210\n \nTax on profit on ordinary activities (111,201) (92,997)\n \nPROFIT FOR THE FINANCIAL PERIOD 382,310 293,213\n \n...