Depressed Chromogenex has appointed a new chief executive officer and claims a 'significant improvement' in second-half profitability.

Allan Branch, 57, former boss of Hong Kong-based modular video panel group Lighthouse Technologies, is now stepping into the top job at AIM-quoted Chromogenex, Britain's leading maker of cosmetic and medical laser and light-based systems. He replaces Peter McGuinness, who remains as non-executive chairman, and joins at a time when the Llanelli-based company, which made £493,000 pre-tax in 2006 but suffered a severe profits fall to £10,000 in the first half of last year, says it has achieved 'record fourth-quarter sales and profits'.

Chromogenex, which recruited ex-City fund management chief and former MP Howard Flight and its own sales head Kevin Williams as non-executive directors last May, says its second-half improvement follows management changes and will bring annual earnings for 2007 'in line with market expectations'. The company, which recently replaced Blue Oar with HB Corporate as broker and nominated adviser, says Branch, for 20 years a prominent figure in global intelligent robotics, has 'an impressive track record of developing small companies into industry leaders'.

McGuinness argues the laser industry 'offers significant growth potential' and says directors are 'excited' about current prospects. Investors, who have seen the shares fall from 2005's float price of 11p to 5.25p today, up 0.88p this morning, must hope Branch can turn these aspirations into reality.

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Chromogenex	AIM	£0.76m	1.25p	0.00p
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