Business
First Sales Order China and Trading Update
First Sales Order China and Trading Update.
About this update from Fortis Frontier Plc
[{"type":"text","content":"\n \nRNS Number : 8738H Concepta PLC 13 June 2017 \n\n \n13 June 2017\nConcepta plc (\"Concepta\" or the \"Company\")\nFirst £225,000 Sales Order for myLotus Fertility Products Signed in China and Trading Update\nConcepta Plc (AIM: CPT), the pioneering UK healthcare company and developer of a proprietary platform and suite of products targeted at the personalised mobile health market with a primary focus on women's fertility and specifically unexplained infertility*, announces that it has received its first sales order for RMB 1.95million (£225,000 at today's exchange rate of RMB 8.33: £1) for its myLotus fertility products from its partner in China, HuanZhong Biotech Co.Ltd ('HZ Biotech'). \nThis sales order represents the first purchase for the Company's myLotus products and will see HZ Biotech distribute myLotus products in China to help achieve market penetration for the initial launch of the product in the country. The Board anticipates that further sales orders will be made by HZ Biotech in line with its partner agreement and will update the market on these developments accordingly.\nConcepta's myLotus product is the only consumer product which allows both quantitative and qualitative measurements of a woman's personal hCG and LH hormone levels in an easy to use home test to facilitate higher conception rates and early diagnosis of any fertility problems. Competitor products currently only allow qualitative measurement and are based on the 'average woman'. \n \nNotwithstanding the significant progress made to date by Concepta on achieving its first sales and market penetration into China, as shareholders will be aware, the Company's original business plan envisaged commencement of sales during the first quarter of 2017. Given the receipt of the above order, the Board has re-appraised its sales forecast for 2017, and now believes turnover for year ending 2017 will be below market expectations. However, as the Company has delayed costs and initiated tight cost control, this will result in the losses for the year being broadly in line with current market expectations.\nErik Henau, CEO commented: \"This is a positive and significant milestone for Concepta and is the result of close co-operation with our Chinese partners, who have helped us refine our market entry strategies into ...