Gentix provides trading update
New Milton, UK-based Genetix Group, a cell imaging and analysis firm, has provided an update on trading ahead of its preliminary results for the year ended 31 December 2008, which are expected to be announced in early March.
Revenue for the year is expected to increase by around 14% to about GBP26.2 million ($38.9 million) driven by good growth in clinical instruments, cell biology and the recurring revenue streams of consumables and services. The company's genomics-based instruments revenues are expected to be broadly similar to 2007. Revenue in the year was positively impacted by around GBP800,000 by the strengthening US dollar against sterling.
The Group continues to be strongly cash generative and is expected to finish the year with cash of GBP15.2 million (2007: GBP12.6 million) and no borrowings. Underlying pretax profits and earnings per share are expectted to be inline with market expectations, the firm says.
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