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Acquisition-minded Chromogenex, maker of cosmetic laser devices, expects 2006 profits will meet market hopes of £350,000 pre-tax.

In a bullish trading update, Peter McGuinness, chairman of AIM-quoted Chromogenex, said the Llanelli-based company, which makes lasers to target eczema, acne, dermatitis, unwanted hair and kindred complaints, enjoyed a strong fourth quarter, buoyed by orders from new distributors signed up in Spain and Canada in the second half-year. He indicated pre-tax profits, to be revealed near the end of March, will be ‘in line with market expectations’.

With house broker Corporate Synergy already predicting £350,000 pre-tax, nearly twice 2005’s £180,000 on revenues up from £3.3 million to £4 million, McGuiness’s comments have brought some cheer to Chromogenex’s otherwise lacklustre shares. He said the company’s Nlite laser systems for handling vascular lesions and skin rejuvenation have won strong orders from the new distributors, to add to continuing ‘steady growth’ in Germany and France.

Citing strong consumer demand for ‘non-invasive cosmetic treatments’, McGuinness said: ‘We look forward to continuing the growth of the business over the next 12 months through organic growth and acquisition.’ The shares, floated at 11p in 2005, had fallen to 7.25p by yesterday’s close, but have now perked up 1p to 8.25p.

Chromogenex	AIM	£0.46m	0.75p	-0.08p
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