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Positive results turn back the clock

A Sagentia product story
Edited by the Engineeringtalk editorial team Sep 9, 2005

The Generics Group has reported positive results for the first half of 2005, with Scientific Generics growing at a level not seen in the business since the early 1990s.

The Generics Group has reported positive results for the first half of 2005, with Scientific Generics growing at a level not seen in the business since the early 1990s.

Turnover for the period increased to GBP 10.7 million, up 28% year-on-year (H1 2004: GBP 8.3 million) supported by the continued growth in Generics' core consulting and IP exploitation activities generating a GBP 0.3 million profit (H1 2004: loss of GBP 0.1 million) and increasing fee income by 34% year-on-year.

Regional sales in Germany and the USA have also been strong, with particularly good performance in the medical and industrial sectors.

The disposal of investee company Imerge left Generics a healthy cash balance of GBP 4.65 million with a portfolio BVCA valuation of GBP 12.5 million (Q1 2005: GBP 11.9 million).

Various funding, IPO and disposal opportunities are continuing to be developed within Generics' portfolio in addition to the sale of Imerge.

The prospects for spinouts Sphere Medical Holding and CMR Fuel Cells are particularly strong.

During the period, Sphere, originally Generics' medical joint venture with Siemens, completed a GBP 4 million funding round.

CMR, winner of the 2005 Carbon Trust award as innovator of the year, also completed a GBP 2.3 million funding round, a major step forward in CMR's mission to make mass-market fuel cells commercially viable for the first time.

The positive results were affirmed throughout the period as several of Scientific Generics' design collaborations were recognised in internationally renowned award programmes.

Generics are highly commended at the International CES Innovations Design and Engineering Awards in the USA for two world first products, Boardbug Baby and Child Monitor and Housecall Plus.

And, Scalextric Sport Digital, in collaboration with Hornby, was named best new toy design at the prestigious Marketing Awards for Excellence in Toys.

During the period, Scientific Generics was also awarded certification to ISO9001:2000, the internationally recognised standard for management of business systems.

Martin Frost, Managing Director of The Generics Group, said: "We are delighted with the half-year results and look forward to seeing increasing success across the whole group in the next half of 2005".

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