NextGen gains on good sales forecast
Cambridge-based gene-to-protein specialists NextGen Group plc (NGG.L) today reported strong but unspecified sales growth that was warmly received by the stock market.
Chairman Anthony Rhatigan (pictured) told the group's Annual General Meeting that "following the hiring of its US sales force in March, the company has continued to improve its sales pipeline both in size and development. The company uses a 10 stage monitoring process to evaluate sales progress. Sales invoiced so far this year, plus orders in progress, are expected to approximately equal the revenue generated in the whole of 2005. Practice in the industry would indicate that it is reasonable to expect more sales in the latter half of the year than the first".
NextGen's AIM-litsed shares jumped 10% on the news, moving up 0.12p to 1.38p. The company is now valued at £9.6m.
"The Company has continued to develop its business strategy," Mr Rhatigan said, "and is finding that there is significant scope for the products and services it produces, not only in its current target markets of drug discovery and diagnostics but beyond in areas such as biofuels, bioremediation and vaccine development.
"The Company continues to advance negotiations with other complementary companies in the drug discovery arena with a view to broadening its coverage of the drug discovery market and increasing the number of products it can sell into that market."
NextGen Sciences Ltd is the primary operating arm of NextGen Group. It provides technologies and reagents for molecular biology and protein research. The company’s advanced products automate and simplify complex research techniques, saving time and resources, improving results and accelerating discovery.
28th June 2006
