News

TechMARK movers: Sales surge buoys Vectura

22 May 2008 14:32:00

Shares in drug developer Vectura Group rose Thursday after the AIM listed firm reported a sharp rise in annual sales.

The group, which develops products to treat respiratory diseases such as asthma, said sales for the year to 31 March 2008 rose 80% to £25.2m, although pre-tax losses widened to £21.4m from a restated £8.5m loss the year before.

"This strong financial performance is attributable to the addition of the Innovata business, which contributed over £17m, or 68%, of revenues and £8.6m of earnings before interest, taxes, depreciation and amortisation," it said.

It is also confident of reaching its goal of a sustainable cash-generative position, helped by substantial milestones and royalties from its partners.

Optos continued its rebound after announcing yesterday that pre-tax profit quadrupled in the six months to 31 March and reaffirming revenue growth targets for the year.

The retinal imaging device maker said profit leapt to $1.8m from $0.5m the year before on revenue up 22% to $48.9m. Operating profit before share-based payments rose 33% to $5.6m.

"We are on track to generate 20%-25% revenue growth and maintain a contract renewal rate in excess of 85% at the full year," said chief executive Thomas W. Butts.
FTSE TechMARK - Risers
Tadpole Technology (TAD) 2.33p +6.88%
Oxford Biomedica (OXB) 24.00p +4.35%
Vectura Group (VEC) 57.75p +4.05%
Alphameric (ALM) 21.50p +3.61%
Elan (ELA) € 16.20 +2.66%
RM Group (RM.) 214.00p +2.39%
Sinclair Pharma (SPH) 41.00p +1.86%
Optos (OPTS) 166.00p +1.84%
ProStrakan (PSK) 57.00p +1.79%
Pace (PIC) 88.50p +1.72%

FTSE TechMARK - Fallers
Inion (IIN) 16.00p -8.57%
Renovo Group (RNVO) 25.00p -7.41%
Morse (MOR) 48.00p -5.88%
ServicePower (SVR) 12.25p -5.77%
Ardana (ARA) 8.50p -5.56%
Antisoma (ASM) 26.00p -4.59%
KCOM Group (KCOM) 45.50p -3.70%
Dialight (DIA) 175.00p -2.37%
Protherics (PTI) 43.00p -2.27%
Filtronic (FTC) 66.00p -2.22%

All data suppied by Digital Look (15 minute delay)




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