Trading Statement
25 Avril 2003 - 12:56PM
UK Regulatory
RNS Number:3832K
Genetix Group PLC
25 April 2003
FOR IMMEDIATE RELEASE
Genetix Group plc
Trading Update
New Milton, UK, 25 April 2003 - The Board of Genetix Group plc (LSE: GTX) ("
Genetix" or the "Company"), the genomics and proteomics technology group, today
announces the following update on trading.
The challenging market conditions experienced in 2002 have deteriorated during
the first four months of 2003. In line with many other companies in the
Company's sector, global economic uncertainty and government spending policies
have led to a fall in demand and delays in order placement. This has meant that
sales so far this year have been significantly below the same period in 2002,
particularly in the Far East. The Company's consumables and services business
has been less volatile and remains broadly in line with the same period last
year.
Genetix continues to broaden its product portfolio with new cell biology and
proteomics products. Together with its significant cash resources, this is
enabling Genetix to increase its potential markets and exploit a variety of
longer-term opportunities. Genetix continues to direct additional resources to
sales and marketing, including the recent appointment of a senior executive to
manage North America (representing around 50% of worldwide sales), and is in the
process of recruiting additional sales and support staff for our Boston office.
This should allow the Company to further improve customer support and to
increase sales.
In view of the uncertain economic environment, the Company continues to be
cautious about prospects for 2003, but anticipates maintaining its strong cash
position of over #20 million. In addition, through its innovative and superior
product range and pipeline, Genetix is positive about the longer-term prospects
for the Company.
Enquiries:
Genetix Group plc
Mark Reid, Chief Executive
Gary Corsi, Finance Director
Tel: 01425 624600
Financial Dynamics
Jonathan Birt/Francetta Carr
Tel: 020 7831 3113
The release will be available on the Company's website: www.genetix.com
Notes to Editors
About Genetix Group plc
Genetix Group plc is a leading developer of automated systems for the
understanding of systems biology. Genetix made a significant contribution to
the Human Genome Project by supplying high-throughput equipment to seven of the
leading eight laboratories in the consortia. Genetix, through its R&D expertise
and scientific resource, is committed to the continual development of innovative
solutions to accelerate the rate of global scientific discovery. Genetix is
quoted on the London Stock Exchange and is based in New Milton, Hampshire, UK.
This information is provided by RNS
The company news service from the London Stock Exchange
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