Companies: CEL   

Life sciences and laboratory services concern Celsis International has increased interim pre-tax profits 16.3 per cent to $5.3 million (£3.5 million).

Fully listed Celsis, whose products and services are designed to save time and costs for drug and consumer products groups, upped turnover a more modest 3.5 per cent to $27.2 million in the six months to September and lifted earnings 14.1 per cent to 15.99 cents (10.5p) a share.

Chief executive officer Jay LeCoque says a ‘robust performance’ in the company’s higher-margin rapid detection division, which cuts testing times for microbial contamination, and in its in vitro technologies products business, which reduces the time and cost of drug development, offset a slowdown in analytical and development services.

LeCoque suggests that Celsis, which reduced capital expenditure by a third to $1.4 million, will show ‘double-digit’ revenue growth for the full year in rapid detection and in vitro technologies. He argues that, though the slowdown in analytical and development services will be longer than first expected, the company has initiated ‘customer-focused strategies’ to secure continued contract growth.

Celsis, which ended the first half-year with cash down from $6.3 million to $3.9 million, continues ‘to evaluate new acquisition opportunities’, adds LeCoque. The shares, which fell from 244.5p in mid 2007 to 129p last month, now trade at 143.5p, down 11.5p this morning, and value the company at £31.7 million.   

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Celsis	LSE	£34.7m	158.50p	3.50p
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