AMERSHAM'S GOOD RESULTS BOOSTED BY USB

UK health science group Amersham International revealed a strong performance by its businesses in the fiscal year ended March 31, 1994. "Sales and profits reached record levels," noted Sir Edwin Nixon, Amersham's chairman, adding that "more importantly, businesses had considerably enhanced underlying strategic growth." The year's results were also boosted by the acquisition of US Biochemical.

Turnover grew 20% to L324.2 million ($514.7 million), with underlying turnover growth in real terms at 10%. Pretax profit was L43.5 million, up 65%, and operating profit advanced 72% to L43.3 million. Earnings per share were ahead 55% on year-earlier levels to 47 pence. Kirk Stephenson, financial director, pointed out that there had been good underlying growth across the board, there was benefit from the inclusion of US Biochemical and that Amersham had significantly benefited from exchange rate movements.

By business sector, there was strong growth in turnover in life sciences, advancing to 46% of total turnover in 1994, compared with 37% a year earlier. Trading profit increased 55% to L43.2 million. USB made a contribution of $4.8 million to trading profit, up 29%. Health care sales growth benefited from strong sales in North America and Japan. Sales in the USA were boosted by the first benefits of secondary bone cancer pain-controlling agent Metastron (strontium89).