RTS posts strong performance

SALFORD-based engineering company Robotic Technology Systems has increased first half turnover by 19%, thanks to an exceptionally strong performance from its life science business.

The increase in group revenue to £5.5m for the six months ended 30 June 2009, from £4.6m a year earlier, was primarily driven by the company’s growing success in the biobanking market, which saw RTS Life Science’s revenues rise 70% to £4.2m.

This increase in turnover combined with a reduced cost base reversed last year’s first half operating loss of £600,000 to an operating profit of £300,000.

Pre-tax losses stood at £100,000 compared with a loss of £1.8m a year earlier. The group order book increased by 14% from the balance last year to £5.0m.

However, the Flexible Systems business saw revenues fall 39% in what the company called “weak market conditions”.

The company also confirmed that it is still in talks, which were first announced in May, that “may or may not” lead to an offer for the company. 

Chris Brown, chairman of RTS, said: “Despite difficult market conditions I am pleased to report that the group’s improved performance continued in the first half.

“With both businesses now operating with a lower cost base and with strategies clearly focused on lower risk work in higher growth areas, the board is confident that this positive trend can be maintained.”

The company said it would pay a dividend of 1p per share.