NOTICE OF RESULTS AND TRADING UPDATE
Regenersis plc (“Regenersis”) issues this trading update in advance of its results for the six months to 31 December 2012, which will be announced on Thursday, 14 March 2013.
The board is pleased to confirm that earnings for the half year will be in line with market expectations, following a strong trading period which has delivered further double digit organic sales growth, as well as a positive contribution from the group’s recent acquisition, HDM. The Advanced Solutions division has produced very significant earnings growth and the first contribution from royalties of our In Field Tester (“IFT”) in both the UK and the USA was secured. Cash flow has again been better than market expectations for the group as a whole.
The group has continued to make operating and capital expenditure investments in the development of the new service lines during the first half of the year. At the time of the Interim Results, the board expects that it will be able to provide a positive update on the progress of the IFT in the USA, as well as other initiatives. The M&A market continues to provide a number of interesting opportunities.
The group has also recently been informed that it has won a very significant, multi-geography, multi-year contract, which will contribute most to the Emerging Market Depot Solutions division. The detailed contractual terms are now in negotiation, the specifics of which will be announced with or before the group’s interim results.
These developments and the half year results underpin the board's expectation for the full year, as well as adding further confidence to its expectations for good growth next financial year.