BioProgress lives up to its name as it goes forward in 2006
BioProgress plc (BPRG.L), the specialty pharmaceutical and healthcare company, reported a much reduced loss of £2.5m loss for the year ended 31 December, 2006.
The revamped Cambridge-based group said that revenue increased by 116% to £9.5m while gross profit was up 200% to £5.4m. It reported cash reserves of £6.6m, marginally up on 2005.
CEO Richard Trevillion (pictured) said: "2006 has been an extremely successful and productive year. We have achieved operational profitability for the first time in the Company's history, significantly expanded our proprietary technologies and made several value enhancing acquisitions. The success of the past 12 months has positioned the Group well for continued growth and the ongoing growth of shareholder value."
Operational highlights in the year included:
• Acquisition of Dexo S.A., Segix Farma and trading assets of AirPharma and their successful integration
• Placement of TabwrapTM at Inyx
• Launch of new proprietary technologies
- SolupolTM and EntWrapTM
Since the year end the company said highlights included:
• Acquisition of DMPL
• Successful Arab Health Exhibition
• Various in-licensing and co-promotion arrangements
• Launch of MeltumsTM proprietary technology
The company has undergone a significant turnaround over the past 18 months.
19th April 2007
