Business
AorTech Announces Year End Pr
AorTech Announces Year End Pr.
About this update from Rua Life Sciences Plc
[{"type":"text","content":"\n RNS Number : 3179Q Aortech International PLC 02 August 2010 \n \n\nAorTech International plc\n(\"the Company\" or \"the Group\")\n \nPreliminary Results for the year ended 31 March 2010\n \n \nAorTech International plc (AIM: AOR), the biomaterials and medical device development company, today announces its preliminary results for the year ended 31 March 2010.\n \nFinancial highlights (vs. prior year)\n· Group turnover increased from £1.3m to £1.4m\n· Pre-tax loss increased from £1.2m to £1.9m\n· Cash reserves decreased from £4.2m to £2.9m\n \nJon Pither, Chairman of the Company, commented: \"Going beyond the simple financial figures that have been reported, the Board believes that your Company has passed the evolutionary point, the tipping point, with an established widely applicable and respected material, which has achieved regulatory approval, and that this will now lead to rapidly rising direct and indirect revenues. The executive team, capable of realising this opportunity, is largely in place. Therefore subject to unforeseen events the Company's financial performance will begin to show substantial reward for the years of patient research and development.\"\n \n \n- Ends - \n \n \nFor further information contact:\n \nAorTech International plc \nFrank Maguire, Chief Executive Tel: + 1 801 201 4336 \n \nAorTech International plc \nSarah Price, Investor Relations Tel: + 1 801 649 4163 \ne-mail [email protected]\n \nEvolution Securities Limited\nBobbie Hilliam / Chris Clarke &...