Released 07.00hrs 22nd December 2005
Interim results for the six months to 30th September 2005 |
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Micap plc (“Micap” or the “Company”) today reports its interim results for the six months to 30th September 2005.
Micap is a provider of microencapsulation solutions to a range of customers in fields such as flavour delivery, agrochemicals, healthcare and industrial applications, using both its proprietary yeast cell technology and bespoke methods developed by its scientific team.
HIGHLIGHTS
- Successful placing of new Ordinary shares to raise £825,000.
- Reduced loss per ordinary share of 2.0p (2004: loss 2.4p); After tax loss of £0.59 million (2004 - loss £0.68m).
- Operating loss reduced by 17 % to £0.69 million (2004: loss £0.83 million).
- Four distinct operating companies now within the Group delivering a growing range of customer and revenue opportunities.
- Significant progress in commercialisation of Micap technologies.
- Acquisition of 100% of Micap Encapsulates Ltd.
- Programme of cost reduction across Group continues to be implemented.
Commenting on the results, Michael Norris,
Chief Executive
of Micap, said:
“The successful placing we have just concluded gives us the opportunity to make progress in all of our four business units.“
“Whilst it is imperative that each Group company generates its own revenues, Micap is now in the fortunate position of having a structure which allows it to offer a “one-stop shop” to any potential customer. We can create a technical solution to a problem using our yeast technology or the services of Micap GmbH, provide full formulation and regulatory support at Applied Analysis, and manufacture the products, if suitable, at Micap Encapsulates.”
“I believe this range of services will allow us to continue to grow our revenue streams, and in conjunction with careful cost control, will take Micap plc to profitability. I look forward to the future with enthusiasm and growing confidence.”
Contact:
Micap plc 01942 625590
Michael Norris, CEO 07966 341802
Binns & Co 020 7786 9600
Tarquin Edwards 07879 458 364
Chris Steele 07979 604 687
Chief Executive’s Statement
Click below to download the full results in Acrobat reader format (pdf)
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