Genetix's full-year 2005 pre-tax profit up 84%

Genetix, a UK-based cell biology and proteomics technology group, says that, for the year ended 31 December 2005, it achieved turnover of L12.1 million ($21.2 million) versus L12.2 million in the previous year. However, the firm's profit before tax rose 84.6% on 2004 to L2.3 million due to improved instrumentation margins together with reduced operating costs.

The New Milton-based group, which is managed as a single fully-integrated business at all levels, saw instrumentation sales of L9.3 million, up 1% on 2004, including a strong performance from its picking and cell biology range. Income from consumables and services was L2.8 million, down 6%, while the firm's gross margin improved 54%, thanks to the new cell biology products.

Summarizing the firm's outlook for the coming year, Mark Reid, Genetix' chief executive, said: "in 2006, we expect to continue to benefit from our investment in cell biology as we follow through on the increasing number of sales leads generated within this segment." He added that the company's Board has decided that a re-listing of its shares on the Alternative Investment Market of the London Stock Exchange would "better serve the interests of shareholders."