Business
Audited 2012 Preliminary Results
Audited 2012 Preliminary Results.
About this update from Hvivo Plc
[{"type":"text","content":"\n \nRNS Number : 9662B Retroscreen Virology Group PLC 10 April 2013 \n \n\nFor immediate release 07.00: 10 April 2013\n \nRETROSCREEN VIROLOGY GROUP PLC\n(\"Retroscreen\" or the \"Company\" or the \"Group\")\n \nAUDITED PRELIMINARY RESULTS\n FOR THE YEAR ENDED 31 DECEMBER 2012\n \nRetroscreen Virology Group plc (AIM: RVG), the viral challenge and \"virometrics\" specialist, is pleased to announce its preliminary results for the year ended 31 December 2012. \n \nFinancial Highlights\n \n§ Revenue increased by 237% to £14.4 million (2011: £4.3 million);\n \n§ Gross profit was £3.70 million and gross margin 25.7% (2011: gross profit £0.61 million and gross margin 14.4%);\n \n§ Loss before taxation was £0.43 million (2011: £1.16 million); \n \n§ Profit for the year was £0.53 million (2011: Loss of £0.66 million);\n \n§ Strong balance sheet with cash and cash equivalents at 31 December 2012 of £16.34 million (2011: £1.59 million) and net current assets of £15.0 million (2011:1.2 million);\n \n§ Admitted to AIM on 3 May 2012 with net fundraise of £14.12 million.\n \nOperational Highlights\n \n§ Conducted Retroscreen's largest VCM study to-date, with a total of six quarantines and over 100 volunteers recruited, achieving proof-of-concept for our client within ten months of the first subject entering the study; \n \n§ Reached an important milestone when we safely inoculated our 1,000th volunteer on 10 December 2012, solidifying Retroscreen's position as the pioneer of the VCM with unrivalled experience and safety record;\n \n§ Continued focus on building solid foundations for significant revenue growth and improvement in margins:\n \n- opened both a new FluCamp screening centre and a second challenge unit in Cambridgeshire, towards the end of 2012\n \n- moved our support functions to our newly developed open-plan office facilities on the 3rd floor of QMB in March 2013\n \n- invested in technology and established Retroscreen's molecular biology capability for qPCR\n \n- selected and commenced implementation of a leading-edge professional services au...