Currency, Life Sciences Boost Amersham Results

UK radiochemicals and health care company Amersham International reported an 8% rise in pretax profits to L50.8 million ($77.9 million) for the year ended March 31. Its performance was helped by L3 million worth of currency gains in the second half of the fiscal year and higher health care sales. Group turnover was up 5% to L351.4 million, after no improvement in the first half.

In Life Sciences, drug development services, sequencing and molecular biology led the way to full-year turnover growth of 6% to L157.1 million. The core radiochemicals business had stopped growing, said Amersham chief executive Bill Castell, but there was a second-half recovery reflecting strong expansion of new services for gene sequencers. The division's trading profit rose 6% to L47.8 million.

Amersham Healthcare recorded 10% turn-over growth to L127.9 million and operating profits up 16% to L21.1 million. North American sales were 8% higher, helped by the newly-launched Rapid Strand oncology seed implant and growing benefit from the exclusive pharmacy distribution network. European sales increased 16%, reflecting the strength of the imaging agent Myoview and of Metastron, a pain reliever for bone metastases. World sales of Metastron grew 7% to L22.1 million.