Concateno plc (Concateno), an in vitro diagnostics company, has reported preliminary results for the year 2008. For the period, company reported revenues of GBP47.5 million, compared with revenue of GBP26.1 million in the same period previous year. It has reported loss of GBP0.42 million, or 043 pence per diluted share, for the full year of 2008, compared with the profit of GBP0.66 million or 1.04 pence per diluted share, in the same period previous year.
Adjusted EBITDA(2) 2008: GBP12.3 million (Pro forma(1) 2007: GBP8 million) – 54% increase
Operating Profit of GBP4.2 million (2007: GBP2 million) – 114% increase
Adjusted basic earnings per share (3) of 6.34 pence (2007: 5.29 pence) – 20% increase
Basic earnings/(loss) per share of (0.43) pence (2007: 1.05 pence) after non-recurring
Net debt as at 31st December 2008 GBP24.1 million (2007: GBP27 million)
Keith Tozzi, chairman said:
“2008 has been a successful year for the business with some significant strategic and operational milestones delivered upon. Progress is illustrated through the delivery of these excellent financial results.”
“Despite the difficult wider macro-economic environment we have been encouraged by the trading performance of the Group in the year to date. We have good visibility over revenues, with approximately half of our sales generated from the public sector and an additional quarter from highly regulated private sector customers.
The Board believes that the Company is successfully delivering on its strategy and looks forward to 2009 with confidence.”