Business
Pre-close Trading Update
Pre-close Trading Update.
About this update from Metir Plc
[{"type":"text","content":"\n \nRNS Number : 9414Z Microsaic Systems plc 16 January 2020 \n\n16 January 2020\nMicrosaic Systems plc\n \n(\"Microsaic\" or the \"Company\")\n \nPre-close Trading Update - Revenues up 50%\n \nMicrosaic Systems plc (AIM: MSYS), the developer of point of need mass spectrometry (\"MS\") instruments, confirms that revenues for the year ending 31 December 2019 have significantly exceeded 2018, and increasing momentum is being achieved in key areas of the Company's strategy.\n \n2019 revenues are expected to be £0.87m, 50% higher than last year (2018: £0.58m), with stronger sales in the second half being 66% above those reported for the first half. Gross margins also improved significantly in H2 and are expected to be approximately 43% (H1 2019: 32%), reaching 39% for the year as a whole (2018: 42%). Cash position at 31 December 2019 is £2.62m, which is in line with management expectations. \n \nDuring the year, Microsaic made significant progress with its strategy for the traditional 'small molecule' market, by signing four new agreements in the year, specifically an additional OEM agreement with Biometrics Technologies Co, Ltd for its 4500 MID® MS detector to be integrated with high performance liquid chromatography equipment and distributed in Southeast Asia, South Korea and India. Three exclusive distribution agreements were signed for the distribution of the 4500 MID® MS detector with CM Corporation Ltd. for South Korea, Chromatec Scientific Pty. Ltd for Australia and New Zealand and with ST Japan Inc., for the Japanese market.\n \n2019 also saw significant developments with the strategy for the biopharmaceuticals market, including the launch of the new MiD® ProteinID product. This can measure in-situ small and large molecules during bioprocessing (at-line, off-line or on-line to the bioreactor), and for rapid protein identification in a wide range of separation applications. Other developments included:\n \n· Positive results from a proof of concept study for MiD® ProteinID technology undertaken by the Centre for Process Innovation (\"CPI\").\n· Partnership with the CPI to demonstrate a working concept for a completely on-line analysis system for real-time control of biomanufacturing. This will be the first such sy...