Cyprotex performing ahead of expectations
CHESHIRE biotech company Cyprotex says it financial performance for the first five months of the year is ahead of expectations, driven by strong growth in the UK and in the face of “challenges” in its US operations.
“The board expects that its full year revenues and profits will exceed current market expectations,” a company statement said.
The AIM-listed company has sites in Macclesfield, Watertown in Massachusetts and Kalamazoo, Michigan in the US.
In April Cyrpotex reported its first operating loss for seven years – £710,000 – a reversal of the previous year’s profit of £610,000.
In its final results for the year ended in December, the Macclesfield-based company revealed strong revenue growth, up 18.4% to £11.57m (2013: £9.77m).
