City briefs: Robinson; SourceBio International
Robinson, the Chesterfield-based packaging manufacturer, has bounced back to profitable ways after releasing its half-year results to June 30.
Revenue at the company rose by £4.2m to £25.4m for the period, while the company turned a loss of £600,000 last year to a profit of £2.8m this time around. Some £2.1m of this was made up of the sale of company properties.
Alan Raleigh, chairman, said: “We expect the substantial uncertainty and volatility experienced since the beginning of 2021 to continue throughout 2022. Sales volumes will be under further pressure in the second half due to: the effect of inflation, which averaged 11% in June, the cost-of-living crisis, the de-listing of some products by our customers and certain of our customers prioritising existing business over innovation projects during the pandemic. We are now starting to see more new business activity with our existing and potential customers, which provides opportunities for growth in 2023 and beyond.”
Nottingham laboratory services provider SourceBio International has seen a fall in revenues and profit for the six months to the end of June, as it wound up its Covid test processing services.
The firm, which made its name processing Covid tests during the pandemic has posted a turnover of £20.5m for the six month period.
The business now comprises three core business units – Healthcare Diagnostics, Genomics and Stability Storage. Core revenues for the first half increased to £13.7 million, an increase of 74% on the prior first half revenues of £7.9 million. Total gross profit decreased to £7m, a reduction of 56% on the prior first half gross profit of £16m.
Jay LeCoque, executive chairman, said: “We are encouraged with progress and growth delivered in the three core business units in the first half. Our operational focus remains the continued further scale-up of Cellular Pathology and Digital Pathology volumes through the rest of the year and beyond. We expect a very busy second half and look forward to updating the market in due course.”