Astek results give reason to smile

ALTRINCHAM-based dental products company Astek Group has made significant headway on reducing its losses for the first half of the year – and the second half looks even stronger as trading is set to pick up.

The company reduced its pre-tax loss to £99,100 for the six months to the end of September 2008, from £215,700 a year ago.

The improvement was made on just a £46,000 increase in revenues to £550,000, compared to last year – attributable to improved sales of its proprietary disposable air water syringe system Pro-Tip, following a previous decrease in US sales because of  structural change within its distribution partner.

But the improvement was also because of the continued reduction of directors’ salaries by 50%.

In October and November, the company made its first shipments of its InSafe branded anaesthetic safety syringe and special sharps box, having made exclusive distribution agreements in the UK and Germany.

It added that negotiations are under way with potential distributors in other territories and that it expects sales of this product to further improve trading performance in the second half of the year.

In its statement the company said: “The directors believe that Astek’s market will be relatively unaffected by the global economic downturn and, although currency fluctuations may adversely affect Euro-zone sales, the group’s competitive position in dollar zone markets will be improved. 

“Whilst well aware of the significant external challenges to relatively young/innovative companies, not least from turbulent currency markets and rising costs, the board feels that the group has surmounted the difficulties experienced in the previous period and is on track to begin fulfilling its potential.”