Manchester-based Tepnel Life Sciences has turned in a robust performance for the first six months of the year, with double-digit growth in revenues and profit.
The group, which focuses on molecular diagnostics and research products and services, booked total sales of £9.02 million for six-month period to June 30, marking a 15% rise (at constant exchange rates) from the £8.16 million generated a year ago.
Growth was driven by a strong performance from both business segments, with molecular diagnostics sales jumping 17% to £5.17 million and research products and services climbing 11% to £3.85 million.
Back in black
Rising sales helped the company to book a gross profit of £5.07 million, up 22% from the year-ago period, while operating profit swung back into the black at £500,000, compared to last year’s £500,000 loss.
The company’s strategy has been to identify high growth niche opportunities within the multi-billion pound biomedical research and molecular diagnostics markets and, commenting on the results, the group’s chief executive Ben Matzilevich said that the “excellent” first-half performance shows that “Tepnel is achieving its strategic and operational objectives with strong growth in both revenue and operating profit across both operating divisions.”
He went on to conclude that the group is “increasingly well positioned for future growth and [to] continue to develop innovative new products and services for the molecular diagnostics and research product sectors of our market.”