Business
Results for the year ended 30 June 2013
Results for the year ended 30 June 2013.
About this update from Bioventix Plc
[{"type":"text","content":"\n \n Bioventix plc \n\n (\"Bioventix\" or the \"Company\") \n\n Preliminary audited results for the year ended 30 June 2013 \n\nBioventix plc (ISDX: BVXP), a UK company specialising in the development and\ncommercial supply of high-affinity monoclonal antibodies for applications in\nclinical diagnostics, announces its final results for the year ended 30 June\n2013.\n\nHighlights:\n\n * Revenues have grown by 14% compared with the year to 30 June 2012\n \n * Profit after tax increased by 23% compared with the year to 30 June 2012\n \n * Cash balances of GBP2.585m at 30 June 2013 (GBP2.179m at 30 June 2012)\n \n * Dividend declared of 8.77p (2012: 7.26p)\n \nCHAIRMAN AND CHIEF EXECUTIVE'S STATEMENT\n\nFOR THE YEAR ENDED 30 JUNE 2013\n\nWe are pleased to report the results for the financial year ended 30 June 2013.\nRevenues for the year of £2.706m (2012:£2.383m) were 14% up on the previous\nyear. With the costs broadly similar to previous years, profits have increased\nby a greater percentage (23%).\n\nThe core historic business has remained strong and has been supplemented by\ngrowth in other areas. We have reported consistently on our positive outlook\nfor our vitamin D activities and a leading antibody called vitD3.5H10. Revenue\nfrom this product has continued to grow and increasing royalties are now being\ngenerated as customer products (assays for vitamin D deficiency) reach markets\naround the world. Bioventix now has eleven licensees for vitD3.5H10 ranging\nfrom large to small diagnostics companies. We expect more licenses to be\nconcluded over the next year and remain optimistic that revenues from\nvitD3.5H10 will continue to grow over the next couple of years as more\nvitD3.5H10-based products reach the market. Many customers prefer to keep the\nidentity of their suppliers confidential and we naturally respect this.\nHowever, some information inevitably becomes available through public access\nmechanisms such as the US Food and Drug Administration 510k approval process.\nThe term \"sheep monoclonal antibody\" is indicative of a Bioventix antibody and\nthis is evident in the apllications of Ortho Clinical Diagnostics and Tosoh.\n\nOur on-going pipeline development has resulted in new antibodies to\nandrostenedione (an androgenic steroid similar to testosterone) and TSH\n(thyroid stimulating hormone) being supplied to c...