Cyprotex warns on profits

DRUG testing specialist Cyprotex has warned profits will be below market expectations due to “softer” second half revenues.

The Macclesfield firm, which develops software used by large pharmaceutical groups to predict the effect of medication, said its performance had been affected in recent weeks by pre-Christmas customer delays.

In a trading statement the group said: “While revenues up to the month of October were as expected, late November and December performance have been slightly softer than expected due to a delay in customers sending the compounds prior to the extended Christmas holiday period.

“Revenues are ahead of 2011 comparables and the company continues to trade profitably, however, we expect revenues will be slightly below market expectations with a commensurate drop in profit.”

In the six months to the end of June Cyprotex announced a 5.1% increase in revenues to £3.72m with an operating loss of £189,000.