Source BioScience plc (LSE:SBS) the international laboratory services
and products business publishes its Half Year Report for the six months
ended 30 June 2014.
*Adjusted results for 2013 are stated after eliminating the acquisition
costs of £0.1 million for Inverclyde Biologicals. The adjusted results
have been included to present a fair comparison between 2013 and 2014.
Laurie Turnbull, Chairman of Source BioScience, said: "The first half of
the year has been another period of significant progression for Source
BioScience. New opportunities are being crystallised for the enlarged
Group, particularly in the US wit our new facilities in Atlanta and Los
Angeles. The period has also delivered the consolidation and integration
of the two strategically important acquisitions made in 2013. The
operational integration has been substantially concluded and the
commercial integration continues as planned.
"Source BioScience can now offer a broader portfolio of services and
products to customers in more geographical markets. This not only
provides outstanding opportunities for increased sales, but also a more
rounded and balanced shape to the business.
"I would also like to reiterate my welcome to Pam Liversidge to the
Board as a Non-Executive Director. Pam has enjoyed a successful career
in senior leadership roles across a broad spectrum of companies and her
considerable knowledge will be invaluable to the enlarged Group. The
Company is determined to recruit and retain the highest calibre
individuals and Pam will bring experience and an important, additional
skill base to the Board as we continue with the implementation of the
Group's growth strategy.
"For the rest of the year and beyond, our focus is to exploit the
excellent platform we now have to further increase sales further and
drive the expansion of our international business. Although it is still
early days, we are seeing a positive response to the enlarged Group and
enhanced offering, and we are pleased with the performance to date which
is in line with market expectations for the full year."
For the full release, please visit the company website at www.sourcebioscience.com.
About Source BioScience
Source BioScience is a trusted provider of state-of-the-art products and
services to the healthcare and clinical, life and applied scientific and
biopharma industries. It is an international business with centres in
four countries and customers in over 90 countries. The Group offers a
complementary portfolio of products and services that share common
technologies, lab processes, infrastructure and expertise. These include
clinical diagnostics, genomics, proteomics, drug discovery and
development research as well as controlled environment storage and
testing services for a diverse range of markets. These products and
services are provided to a large and diverse customer base including the
top 50 pharmaceutical companies, leading universities and research
institutes worldwide, the UK NHS and other healthcare providers. The
Group is listed on the Premium Main Market of the London Stock Exchange
This business review may contain forward-looking statements. By
their nature, forward-looking statements involve risk and uncertainty
because they relate to future events and circumstances. Actual outcomes
and results may differ materially from any outcomes or results expressed
or implied by such forward-looking statements. Any forward-looking
statements made by or on behalf of Source BioScience speak only as at
the date they are made and no representation or warranty is given in
relation to them, including as to their completeness or accuracy or the
basis on which they were prepared. Source BioScience does not undertake
to update forward-looking statements to reflect any changes in the
Group's expectations with regard thereto or any changes in events,
conditions or circumstances on which any such statement is based.
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